-
Turns Out YOU'RE Rich, Too
-
This article maps where the world's wealthiest 1% live, and, surprise, the biggest number is in the U.S. But Japan's second, France third, China makes the top 10, and the article points out how misleading that 1% figure is. For one thing, it's based on assets minus debt -- it doesn't take income into account. So you could be earning a ton and not make the list. Second, it doesn't take into account how expensive it is to live where you live -- the cost of living might make someone earning millions less wealthy in an expensive area than one making millions less in a place where homes don't cost as much. And here's what the class warfare folks never mention: If you have $77,000 worth of net assets, like in your house, you're in the wealthiest 10%. Congratulations! And if you have $3,650 worth of net assets, you're in the top 50%. So, wealth is very relative. (BBC)
Have an opinion? Add your comment below.