Financial Glossary: Affluenza


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Affluenza

Affluenza

A social condition arising from the desire to be more wealthy or successful.

Affluenza is a term used by critics of consumerism. Affluenza is symptomatic of a culture that holds up financial success as one of the highest achievements. People said to be affected by affluenza typically find that the very economic success they have been so desperately chasing ends up leaving them feeling unfulfilled, and wishing to be wealthier.

Affluenza is arguably present in the United States, where the culture is one that prides itself on possessions and financial success. Mainstream media outlets, such as television broadcasts, tend to show how pervasive the idea has become. The condition is considered particularly acute amongst those with inherited wealth, who are often said to experience guilt, lack of purpose and dissolute behavior, as well as obsession with holding on to the wealth .

While affluenza cannot be quantified easily, the condition can be avoided by trying to be the master of and not a slave to, the things they have or wish to obtain.

Posted by Convention of Independent Financial Advisors CIFA

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