Yes - but the definition of "High Net Worth Individual" often takes into account income as well as net assets.
In truth, a real "High Net Worth" individual as we would think of them is a combination of the two. Lots of elderly people have enormous net assets as they bought a house in the South East 50 years ago but effectively live in it until it rots and they die as they are penniless from an income perspective.
Why you would choose to do that rather than downsize and release equity beats me. There is an old guy on our street that lives alone in a dilapidated house with £1,000,000 - why not move out, live somewhere you can maintain and have cash in the bank to look after yourself.
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