Think globally | USA asset report 2025

At a time of increasing geopolitical volatility, wealthy people and families are back in where, how and what they have. The age of the undisputed US dominance has ended, replaced by a multipolar world that is characterized by fiscal ruthlessness, military confrontation and political instability. While America's Golden Age of Investment fades, the country's richest move their money – and their lives – abroad in record numbers. Global diversification is no longer optional, but essential to maintain prosperity, lifestyle and heir in a world in which opportunities shift beyond us.

Wealth in motion

Terms such as a person with a high network value, the individual individual and the family office often cover the individuality of the people and strategies they represent. As the saying says: “When you have seen a family office, you have seen a family office.” Each manages generational assets with different goals and challenges. This prosperity is increasingly in motion – between generations and sectors and cross -border.

Published by data in The Henley Global Mobility Report 2025, unprecedented 134,000 millionaires, which were laid worldwide in 2024, will be exceeded in 2025. These rivers are also not uncomplicated – even if the record number of US investors according to a “Plan B” according to a “Plan B”, in the United States, among the countries of the countries with the largest net routes of millionaires from other countries.

As always, the grass often appears elsewhere.

Location as a strategic lever

Borders, once symbolic, have regained the meaning. Nation states – and the guidelines they enact – have an impact on prosperity, regardless of whether they are visited or not. Resilience is to recognize both the restrictions and both the restrictions and the recognition Possibilities of geography – and according to planning.

WEATH brings the option for those who are ready to hug it. The preservation and growing capital is part of the puzzle; Quality of life is different. We can earn more money, but no more time – where and how you spend your own should be a conscious choice.

Decisions about How They have (planning structures), Where They have (custody and private banks jurisdiction) and What They have (asset alloclocation) increasingly consistently. In today's world it is essential to think differently about liquidity and to adapt portfolios to multipolar global reality.

The rise and fall of unipolarity

When the Soviet Union collapsed in 1991, the only serious rival of the US global dominance disappeared. The fall showed that the USSR was more than a substance – economically weak and politically brittle. The United States, which had withdrawn from the Cold War restrictions, exported its economic model worldwide and triggered an era of rapid growth, innovation and capital accumulation.

This “unipolar moment” made investing relatively easy. The United States had a unanimous military, deep capital markets, legal stability and the zealous consumers. Political polarization was low – both major parties generally support free trade and a reserved financial policy. In the late nineties, the country even led a budget surplus.

Global investors flocked to America. The demand for US state bonds seemed unlimited. Some applied for a diversification in countries that exposed to US globalization for its exports or China for its production capacity. But ultimately the investment was in a US index fund and the steady holding strategy. Even swings such as the DOT COM-Crash and the 2008 crisis turned out afterwards to buy opportunities in a general booming market.

The end of us hegemony

This era is over. The first cracks appeared after September 11th. They deepened when Russia entered Georgia in 2008 and continued to widen in 2013 when XI Jinping rose to power. The Brexit referendum in 2016 signaled a revival of nationalism. In the same year, Donald Trump's election “America” ​​brought the first trade wars and escalating global tensions.

Covid-19 has shaken any illusion of global cooperation. Wealthy nations hugged vaccines and closed boundaries. Russia's 2022 invasion in Ukraine was the final confirmation: the world had occurred a multipolar era.

During this time, the basics of the US market strength began to erode. The American military dominance subsided. Populism and polarization, which are appointed by economic inequality. After the US government became an advocate of tax reluctance, it became a wasteful among both parties and started costly programs and claims.

On the left, numbers like Bernie Sanders and Elizabeth Warren increased more and more popular by promising higher taxes on the rich. On the right side, free trade lost favor on zero-sum protectorism. Both sides now support the government's expansion, even if US debt balloons are not sustainable. As the following table shows, consecutive US governments of both parties have lost any pretext of fiscal conservatism.

Diagram 1. A constantly growing budget deficit

Source: US Office of Management and Budget, federal surplus or deficit [-] [FYFSD]Retrieved by Fred, Federal Reserve Bank of St. Louis; fred.stlouisfed.org/series/fyfsd

The markets reflect the shift

Markets may be apolitical, but they are not blind. They reflect expectations about the future, not the nostalgia for the past. Inflation has increased – not only from supply shocks, but driven by years of uncontrolled expenses. US debt service is now the government's second largest budgetary household object behind social security.

The US dollar remains the global reserve currency, but its dominance is questioned. The countries begin to pay the trade in their own currencies, to hoard gold and to turn digital assets such as Bitcoin. Trust in US policy is eroded. Once countless scenarios and a weakened marine that does not protect the global shipping traces are now a reality.

Investors can no longer rely on Washington to prioritize a solid politics or a stable leadership. The political ideology has become a circle in which populism ultimately meets on the left and right at the site of fiscal unsustainability. After all, someone has to pay for the bill – and wealthy taxpayers are an obvious goal.

Smart Capital will follow the future

America's dominance after the Cold War led to a golden age for investments oriented in the USA. But the world has changed. The geopolitical force is diffuse. Economic policy is more unpredictable. And the quality of life – once a US advantage – is now in many other regions.

For the first time in a generation, US investors must seriously think about the fact that the best opportunities could be beyond their limits. Strategic diversification, responsibility planning and a re -evaluation of the risk and reward are not only careful – they are essential. In the time of geopolitics, Smart Capital has to go where the future is being built, not where the past once thrown.