Is Minimalism the new form of wealth?

Millennial entrepreneurs value time and experiences

There’s a new wave of people who are protesting against the fast-paced life of working +50 hours a week to earn money for a house they don’t need, as they spend most of their time in the office and commuting back and forth anyway. Only to go to bed in the evening and start all over again the next day. And all the while, they’re waiting for the few weeks of holiday a year where they can truly enjoy life.
With too many people living like this, it is no wonder that Minimalism as a concept of life is increasing in popularity – particularly among the Millennials.

Minimalism is a lifestyle that helps people question what things add value to their lives. By clearing the clutter from life’s path, we can all make room for the most important aspects of life: health, relationships, passion, growth, and contribution


For decades, family offices have been managing their clients’ wealth, which do not only include shares, bonds and inheritance plans, but also things, such as real estate, yachts or even jets. But as times are changing, what are the family offices going to manage in the future if Minimalism; owning as little as possible, is the future?

“Millennials, as a generation, also care more about experiences than possessions. Research carried out by psychology professor Thomas Gilovich at Cornell University has shown that people derive more pleasure from experiential purchases rather than material possessions.

I believe that the new wealth will be time and experiences, as we all remember the experiences we’ve had and not the stuff that we bought. What we’re seeing is a rebellion against over-consumption towards more focus on time well spent and less clutter in our lives.


The future of wealth management will be more focused on what impact it creates while securing the cash flow needed to sustain the family’s lifestyle. It will be harder for managers to provide and source yield in a market that currently offers low yields, but also fits the funnel of which the investments must flow through, fulfilling the right impact, feeling and footprint. However, the minimalistic lifestyle does not require the same cash flow and posh assets to fulfil the demands of minimalists where time and headspace is number one on the wish list.

“As the search for yield and predictable rates of return intensifies amid more volatile market conditions, family offices have begun focusing on non-traditional asset classes, such as private equity and real estate.”
The future of family offices, Bloomberg, 2017

As mentioned here, the new family offices will focus on authentic partnerships. The future family office clients, the Millennial entrepreneurs, are a different breed of HNWI, who requires different services and solutions from their family offices, and with a very clear goal for the future that is different from their predecessors.

”Minimalism is a tool that can assist you in finding freedom. Freedom from fear. Freedom from worry. Freedom from overwhelm. Freedom from guilt. Freedom from depression. Freedom from the trappings of the consumer culture we’ve built our lives around. Real freedom”. 

Joshua Fields Millburn & Ryan Nicodemus

If you feel inspired, you can start by watching “Minimalism – a documentary about the important things”.

Daniel Hansen

Founder & CEO

OMNIA Global