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I'm a life coach for the children of the ultrawealthy. I see the same problems over and over again.

3 December 2024 at 02:03
A teen girl talking to a counselor.
Aprajita Anand says the children of the ultrawealthy are an underserved population.

SDI Productions/Getty Images

  • Aprajita Anand has been a life coach for children of the ultrawealthy for more than a decade.
  • Anand says most clients come to her after failing to find success with traditional therapy.
  • She emphasizes the importance of taking action, shifting motivations, and contributing to others.

This as-told-to essay is based on a conversation with Aprajita Anand, 41, a life coach in New York City. It's been edited for length and clarity.

I've been a life coach for children of the ultrawealthy for 12 years. I started on this career path very organically. I was working as a tutor in New York City, largely supporting wealthy students, and I found them to be emotionally struggling in profound ways.

Society often dismisses them as spoiled rich kids who are perhaps unworthy of sympathy, though I think this assumption makes them a strangely underserved population.

Therefore, I pivoted into life coaching and dedicated my career to helping my students β€”teens and young adults β€” navigate the core issues their wealth brings.

Most of my clients have the same story

Problems typically arise when the child encounters rejection, failure, or a struggle that cannot be solved with money.

Many of these problems are social in nature, such as a breakup or excommunication from a friend group or even more systemic issues like racism.

This shock response is commonly followed up by a withdrawal from academic, social, or family life in which they numb themselves with social media, video games, drugs, online shopping, or another behavior of choice.

The parents' first response is often to send their child to a therapist or psychiatrist. I'm a huge believer in therapy, but in some cases, these children end up feeling even more lost and despondent because they're sitting in their feelings and don't know what to do with them. They may wonder how they have every advantage in the world yet are still unable to escape from difficult emotions, which can cause them to sink deeper into their numbing behaviors.

This is often the point when parents bring their children to me.

3 steps to overcoming the 3 biggest issues

In my experience, much of traditional talk therapy is about processing feelings and breaking down thinking patterns. I use some of those elements as a life coach, but I emphasize taking action. I've developed a curriculum to guide young people through three core problems with three core actions.

1. Shift to an internal point of control

Many of my clients fall into a victim mindset, believing they are at the mercy of an unkind world. I empower them to understand they can choose how they respond to any situation.

I had a student who didn't get into her first-choice college, which was difficult for her because it was possibly her first major rejection.

She begrudgingly went to her second choice but refused to engage in freshman orientation or socialize with her peers, and locked herself in her room, numbing herself with social media and Netflix. She was causing unnecessary suffering by sitting in a victim mindset.

When we began working together, I focused on helping her take back her locus of control by taking action, any action. The action she wanted to take was to mount a transfer application to her first-choice school. I agreed to support her if she engaged in a mindset shift, which is step number two.

2. Find internal motivation

Our culture generally equates success with relatively superficial trappings like grades, prestigious colleges, flashy jobs, and lots of money.

However, I assumed someone raised in a wealthy environment would feel unburdened by money and free to live a life of indulgence, free from expectation. To my surprise, my students feel the opposite. They live in an environment that reinforces the idea that money and status are their source of worth.

So, in my client's case, going to a very good school instead of a great school was a complete failure.

While she waited to hear back about her transfer applications, I encouraged her to tap into positive things in her current environment and engage in things that brought her joy. She reluctantly started attending an interest-based club and started going to her professor's office hours just to talk about big ideas on her mind. Slowly, she began to feel like a member of the campus community.

At the end of that year, she got accepted into her first-choice college and ultimately rejected the offer. She had changed her motivation from external to internal and decided the personal reward was greater than the status.

3. Contribute to someone else's well-being

Many of my clients have never had to work, clean, or think about anyone other than themselves. But the amount of time they spend thinking about themselves can be exhausting.

I advise my students to find a way to contribute to someone else's life, such as volunteering with a professional organization or simply helping with chores around the house.

In the case of the student, she took a leadership position in her sorority and ended up loving her role of helping recruits settle into the community.

Contributing to something greater is a positive, healthy way to put down personal problems and find joy in helping someone else. I make sure they understand it's not to pad their rΓ©sumΓ© or check off a box; it's necessary for building a meaningful life.

If you work with children of the ultrawealthy and would like to share your expertise, please email Tess Martinelli at [email protected].

Read the original article on Business Insider

I'm an interior designer who works with high-profile clients. Here are 8 things the rich are putting in their homes right now.

27 November 2024 at 09:18
Ben Franklin sits on a linen armchair with a fancy end table.
Wealthy clients are asking for conversation pieces and sustainable materials in their homes.

Getty Images; Chelsea Jia Feng/BI

  • I'm an interior designer who's worked with wealthy clients with large budgets.
  • Lately, more clients have been asking me to include expensive conversation pieces in their homes.
  • My wealthy clients also gravitate toward eco-friendly materials and statement stones, like onyx.

As an interior designer, I always love working with clients to create spaces that showcase their personalities and values, no matter their budget. But recently, I've had the opportunity to peel back the curtain and see what the wealthy are asking for in their homes.

Over the past year, I've been working with high-profile clients β€” from influencers to a CEO β€” with large budgets. So, I feel like I have a front-row seat to the latest trends in luxury home decor.

Here's what the wealthy are currently loving in their homes.

Clients are constantly asking for conversation pieces.
A black table filled with items looking onto a beige fireplace filled with dried flowers and other plants
One client asked me to incorporate a 17th-century fireplace (not pictured) into their home.

Andreas von Einsiedel/Getty Images

This might sound odd, but some clients insist on incorporating seemingly random, vintage (and, in my opinion, extremely overpriced) items into their homes.

These pieces have ranged from a salvaged fireplace from a 17th-century home in France to a weathered wooden door from an abandoned Italian villa. But honestly, I'm all for it.

Having something interesting to talk about when people walk in never hurts. Imagine someone complimenting your fireplace and casually replying, "Thanks, I shipped it from France." Talk about a conversation starter.

Custom art is becoming more popular among my clients.
A bedroom with a bed with white and beige sheets, a beige couch, and several pieces of artwork on the wall
I love decorating spaces with custom art pieces.

Sammi Smith

I recently worked with clients who wanted art pieces that reflected their personalities.

Instead of picking something off the shelf, I made custom art that fit my clients' visions. Many of these pieces, which required large paintings or paper canvases, were very expensive to make.

Still, my clients loved being part of the creative journey, tweaking and perfecting their masterpieces until they felt just right. As a designer, seeing someone light up when they look at a one-of-a-kind piece hanging on their wall is fulfilling.Β 

Sustainability is definitely in.
Two dark-brown hanging lamps with LED lightbulbs and a window looking onto trees in the background
My wealthy clients have asked for eco-friendly items, like LED light bulbs, in their homes.

Ton Photographer 4289/Shutterstock

Many of my affluent clients search for materials that look stunning and are made with sustainability in mind β€” think energy-efficient lighting, reclaimed wood, and renewable-energy sources.

For example, I've recently sourced sustainably made mattresses for a bedroom and salvaged boards from a barn for a kitchen backsplash.

I believe the future of interior design, especially in luxury homes, will revolve around sustainability. Over the next few years, I expect more designers to ask questions like, "How can we reuse marble to give it a second life?"

Statement stones like onyx and exotic marbles are popular among clients.
A bathroom with a stone bathtub and a tiled wall with various shades of gray and textures
My clients love stone tiles and counters with bold colors and veins.

asbe/Getty Images

Gone are the days of plain countertops and all-white rooms that lack personality. Many of my high-end clients embrace bold statement stones like onyx and exotic marbles that showcase rich lines in the stone and make a striking impact.

Picture a kitchen with a stunning onyx backsplash or a bathroom countertop that elicits a "wow." Statement stones can elevate an ordinary space into something truly unique.

Custom-made furniture is definitely a favorite.
A gray couch with navy and white pillows next to a wall with a built-in shelf filled with baskets, books, and frames
I love perfectly sizing pieces of furniture to fit a space.

Sammi Smith

Custom-made furniture can be a game changer. I love the satisfaction of perfectly sizing a sofa to fit into a tricky corner or coordinating the trim on dining-room chairs with the fabric on a living-room couch.

Though custom pieces aren't essential β€” many of my favorite couches come from Ikea and other big-box stores β€” customizing furniture provides a chance to create unique items that reflect personal style and needs.

Clients who choose the custom-furniture route can select their preferred styles, source unique fabrics, and find ideal cushion fillings.

I've recently been incorporating ambient lighting into my clients' homes.
A headboard with two white pillows next to a sconce with a basket-weave lampshade and a small painting of a seaside scene
Ambient lighting can come from hidden LED strips or lamps that emit a soft glow.

Sammi Smith

Have you ever walked into a nice restaurant and noticed a cozy vibe from the lighting? Ambient lighting β€” soft, glowing light that usually serves as a room's primary source of illumination β€” instantly makes everything feel more inviting.

Lately, my clients with big budgets are asking for custom ambient lighting in every corner of their homes. These fixtures, which range from LED strips tucked away in architectural details to beautifully designed lamps that cast a warm glow, create a luxurious, relaxing atmosphere.

Organic mattresses seem to be all the rage.
A bedroom with a bed with white comforters and tan pillows, graphic artwork, and beige curtains looking onto a backyard filled with trees
Lately, I've been furnishing my clients' homes with organic mattresses.

Sammi Smith

Some mattresses contain polyurethane foam, which can emit chemicals known as volatile organic compounds. Some of these chemicals can be harmful, so lately, I've been furnishing my client's bedrooms with organic mattresses instead.

I recently stumbled upon Avocado Green Mattress, a company specializing in organic mattresses and luxury bedding. So far, I've used the brand's mattresses and furniture in two of my projects, and they've been a hit.

Linen materials are everywhere.
A room with a bed with a white comforter and pillows next to a white nightstand, a mirror, and a window with a blue and white linen curtain
I love linen because it feels luxurious and is versatile.

Sammi Smith

Luxurious linens are popping up everywhere, and honestly, I couldn't be more excited about it.

Linen has proved to be so much more than just a bedding essential. The fabric has an effortlessly luxurious aesthetic, has great breathability, and is versatile enough for furniture, bedding, and window treatments.

Imagine draping your windows with stunning linen curtains that filter light and add a chic touch to your living space. Or how about reupholstering an old chair with some high-quality linen? This fabric can easily give your space a fresh new personality.

Read the original article on Business Insider

The 15 cities around the world with the most billionaires, ranked

20 November 2024 at 06:50
NYC skyline
New York City is home to 144 billionaires, more than nearly every country in the world.

Gary Hershorn/Getty Images

  • Nearly one-third of the world's billionaires live in just 15 cities, a new Altrata study says.
  • New York City is home to the largest population of the world's uberwealthy.
  • Chinese hubs saw their billionaire populations fall as the country battles a weak economy.

For all the talk about the ultrawealthy escaping New York or San Francisco for Jackson Hole and Palm Beach, it turns out billionaires like to stay put β€” and stick together.

According to Altrata's 2024Β Billionaire Census, which examined the high net worth population, 28% of the world's billionaires live in just 15 cities. All of theseΒ were also among the most popular for billionaires to live inΒ last year, and most saw their concentration of very rich residents increase.

New York City maintained its position as the city with the most billionaires. The financial capital, which also saw the biggest growth in billionaire residents, has more of them than nearly every country on Earth, apart from the US, China, and Germany.

The three Chinese cities on the list (Beijing, Shenzhen, and Hangzhou) and Hong Kong experienced declines in their billionaire population due to the region's struggling economy and real estate downturn. Political crackdowns on extreme wealth as part of Xi Jinping's push for a "common prosperity" have also led some Chinese billionaires to flee the country, with the most famous being Alibaba cofounder Jack Ma. In total, the country experienced a 14.8% decline in its billionaire population.

India saw its billionaire population grow the most. It's up 15.9% year on year, and the country is now home to 304 billionaires thanks to infrastructure development, a maturing consumer class, and an uptick in Indian stocks.

There are more billionaires in the world than ever before. Altrata reported a total billionaire population of 3,323, up 4% over last year. Billionaire wealth increased 9% to a cumulative $12.1 trillion.

These are the cities that the members of the world's wealthiest class call home.

15. Hangzhou
Hangzhou aerial shot
Hangzhou, China.

Xiaodong Qiu/Getty Images

Billionaire population in 2023: 33

Number of billionaires lost or gained, year over year: -1

12. Istanbul (tie)
Istanbul city center
Istanbul, Turkey.

Lokman Akkaya/Anadolu Agency via Getty Images

Billionaire population in 2023: 34

Number of billionaires lost or gained, year over year: +1

12. SΓ£o Paulo (tie)
Sao Paulo, Brazil
SΓ£o Paulo, Brazil.

Carlos Alkmin/Getty Images

Billionaire population in 2023: 34

Number of billionaires lost or gained, year over year: +1

12. Paris (tie)
Paris skyline
Paris, France.

Telmo Pinto/NurPhoto via Getty Images

Billionaire population in 2023: 34

Number of billionaires lost or gained, year over year: +2

11. Dubai
Dubai skyline at night
Dubai, United Arab Emirates.

Kabir Jhangiani/NurPhoto via Getty Images

Billionaire population in 2023: 39

Number of billionaires lost or gained, year over year: +1

10. Mumbai
Mumbai aerial view
Mumbai, India.

Peter Adams/Avalon/Universal Images Group via Getty Images

Billionaire population in 2023: 40

Number of billionaires lost or gained, year over year: +1

9. Shenzhen
Shenzhen
Shenzhen, China.

Costfoto/NurPhoto via Getty Images

Billionaire population in 2023: 41

Number of billionaires lost or gained, year over year: -1

8. Singapore
Singapore
Singapore.

ROSLAN RAHMAN/AFP via Getty Images

Billionaire population in 2023: 58

Number of billionaires lost or gained, year over year: +4

7. Beijing
Beijing
Beijing, China.

JADE GAO/AFP via Getty Images

Billionaire population in 2023: 60

Number of billionaires lost or gained, year over year: -2

6. Los Angeles
Hollywood sign
Los Angeles, California, United States.

Paul Rovere/Getty Images

Billionaire population in 2023: 62

Number of billionaires lost or gained, year over year: +5

5. Moscow
Moscow
Moscow, Russia.

NATALIA KOLESNIKOVA/AFP via Getty Images

Billionaire population in 2023: 77

Number of billionaires lost or gained, year over year: +1

4. London
London street
London, England.

Mike Kemp/In Pictures via Getty Images

Billionaire population in 2023: 78

Number of billionaires lost or gained, year over year: +3

3. San Francisco
golden gate bridge
San Francisco, California, United States.

Tayfun Coskun/Anadolu via Getty Images

Billionaire population in 2023: 87

Number of billionaires lost or gained, year over year: +3

2. Hong Kong
Hong Kong skyline
Hong Kong.

Vernon Yuen/NurPhoto via Getty Images

Billionaire population in 2023: 107

Number of billionaires lost or gained, year over year: -5

1. New York City
NYC skyline
New York, New York, United States.

Roy Rochlin/Getty Images

Billionaire population in 2023: 144

Number of billionaires lost or gained, year over year: +9

Read the original article on Business Insider

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