Young And Wealthy But Normal - YAWN

DEFINITION of 'Young And Wealthy But Normal - YAWN'

A class of self-made millionaires that live relatively modest lives. Instead of spending wealth on gaining luxurious items and living expensive lifestyles, these individuals prefer to make contributions to charitable causes and spend time with their families.

BREAKING DOWN 'Young And Wealthy But Normal - YAWN'

The concept of social responsibility may have contributed to the emergence of this new class of wealthy individuals. All in all, these individuals can be a great benefit for society because they redistribute a vast amount of wealth for social good. However, it may be difficult to become a YAWN because it can be very tempting for wealthy young people to be drawn to more extravagant lifestyles.

RELATED TERMS
  1. Lifestyle Creep

    A situation where people's lifestyle or standard of living improves ...
  2. Lifestyle Inflation

    Increasing your spending when your income goes up. Lifestyle ...
  3. Luxury Item

    An item that is not necessary for living, but is deemed as highly-desired ...
  4. Consumption Smoothing

    The ways in which people try to optimize their lifetime standard ...
  5. Cost of Living

    The amount of money needed to sustain a certain level of living, ...
  6. Lifestyle Fund

    An investment fund featuring an asset mix determined by the level ...
Related Articles
  1. Financial Advisors

    What Millionaires Fear the Most

    How much is enough? Millionaires feel major stress over this question.
  2. Financial Advisors

    Why Millionaires are Running Scared

    Most millionaires don't identify as rich and worry about maintaining their wealth. Here's why.
  3. Personal Finance

    Is The Billionaire Charity Pledge A Good Idea?

    Will Bill Gates' call for billionaires to become more active in charitable giving do all the good it could?
  4. Personal Wealth & Private Banking

    Millionaire Households Reach Record High in U.S.

    Millionaire households in the U.S. reached a record high in 2015, a recent study by Spectrem Group has found.
  5. Entrepreneurship

    6 Millionaire Traits That You Can Adopt

    The most successful people have more in common than just money. Find out what you can learn.
  6. Economics

    Wealth Effect

    The wealth effect is a psychological phenomenon that causes people to spend more as the value of their assets rises. The premise is that when consumers' homes or investment portfolios increase ...
  7. Savings

    5 Easy Steps To Becoming A Millionaire

    Find out some easy-to-follow tips for setting yourself up to become a millionaire.
  8. Your Practice

    How to Save for Retirement Like a Wealthy CEO

    Don't have a CEO's income? You can still employ a millionaire’s saving strategy when it comes to planning for retirement.
  9. Budgeting

    How To Manage Lifestyle Inflation

    Learn how to manage your finances so that making extra money actually equates to getting ahead.
  10. Savings

    7 Millionaire Myths

    Here are seven millionaire myths and realities that reveal they don’t quite have it all.
RELATED FAQS
  1. Is the consumer price index (CPI) a cost of living index?

    Explore the consumer price index (CPI) and understand why it is not an actual cost of living index although it is often identified ... Read Answer >>
  2. How is the cost of living index calculated?

    Discover how calculations for cost of living indexes are made based on the average prices of common goods and services between ... Read Answer >>
  3. What is the difference between the cost of living and the cost of inflation?

    Increases in the general price level is called inflation, whereas cost of living is an estimate of the cost of an average ... Read Answer >>
  4. How can I increase my standard of living in my retirement years?

    Find out how to plan for retirement, target a standard of living and improve your financial situation once you've already ... Read Answer >>
  5. Where is cost of living lowest in the world?

    Learn how the cost of living is the lowest in India based on numbers derived from the CPI and organizations like Expatistan ... Read Answer >>
  6. How does the performance of the stock market affect individual businesses?

    Learn how stock markets affect individual businesses by influencing consumer spending levels and affecting the way companies ... Read Answer >>
Hot Definitions
  1. Goldilocks Economy

    An economy that is not so hot that it causes inflation, and not so cold that it causes a recession. This term is used to ...
  2. White Squire

    Very similar to a "white knight", but instead of purchasing a majority interest, the squire purchases a lesser interest in ...
  3. MACD Technical Indicator

    Moving Average Convergence Divergence (or MACD) is a trend-following momentum indicator that shows the relationship between ...
  4. Over-The-Counter - OTC

    Over-The-Counter (or OTC) is a security traded in some context other than on a formal exchange such as the NYSE, TSX, AMEX, ...
  5. Quarter - Q1, Q2, Q3, Q4

    A three-month period on a financial calendar that acts as a basis for the reporting of earnings and the paying of dividends.
  6. Weighted Average Cost Of Capital - WACC

    Weighted average cost of capital (WACC) is a calculation of a firm's cost of capital in which each category of capital is ...
Trading Center