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Credit Suisse: The number of millionaires will increase in Kazakhstan by 2026

Life Insurance Company Freedom Life has conducted a study and found out where the majority of millionaires live, how much their number will increase by 2026, and also talked about financial instruments for capital accumulation in Kazakhstan.
Credit Suisse: The number of millionaires will increase in Kazakhstan by 2026

According to Credit Suisse's 2023 Global Wealth Report, the experts predict that global wealth will reach US$629 trillion by 2027. The number of adults with a net worth over $50 million in Kazakhstan will reach 610 people by 2026.

Financial instruments for savings

Bank deposit is suitable if there is a need to create a financial reserve and have a quick access to it if something happens, or you are ready to invest for 2-3 years, but are afraid of risks. However, when opening a dollar deposit, it is worth considering that the maximum interest rate does not exceed 1%.

Investing in securities can bring great returns. Securities are best suited for passive investments over the long term. By purchasing a variety of assets, you can spread risks and reduce dependence on a single asset. Stocks and bonds often have high liquidity, which means they can be easily bought and sold on the market.

Endowment life insurance (ULI) makes it possible to save money like on a deposit but with a higher return. There are also tax benefits under endowment program, and savings are not subject to collection and partition of property in case of divorce and litigation for the period of validity of the insurance contract.

Photos are from open sources.

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