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I don’t know, I do know when you compare gross wealth something ridiculous like half the USA is in the top 10 percent. That of course takes nothing like Purchasing Power Parity or Required Goods, (like a functioning car) into account. You’ve got to be very careful with these kinds of statistics.
One thing we know for sure though, you can take 99% of a Billionaire’s wealth and they’d still never need to work another day in their life. And it’s not even like they’d need a strict budget to make that happen. (A lot of “financially independent” people got enough dividend stocks to bring in 100K a year and retired, they need a strict budget to keep not working.)
I don’t know, I do know when you compare gross wealth something ridiculous like half the USA is in the top 10 percent. That of course takes nothing like Purchasing Power Parity or Required Goods, (like a functioning car) into account. You’ve got to be very careful with these kinds of statistics.
One thing we know for sure though, you can take 99% of a Billionaire’s wealth and they’d still never need to work another day in their life. And it’s not even like they’d need a strict budget to make that happen. (A lot of “financially independent” people got enough dividend stocks to bring in 100K a year and retired, they need a strict budget to keep not working.)