Top 1% (worldwide) in income and wealth

[buddyhu]

According to the article linked below, if you make $32,400 a year, you are I. The top 1% of earners worldwide. The bar is higher for net worth: it takes a net worth of $770,000 to be in the top 1% in regards to wealth.

I knew I was well off...but wow...it kind of blows me away to realize how my yearly income stacks up with the rest of the world. Time to make good use of this abundance!

https://www.investopedia.com/article...cent-world.asp

[HHP]

The stat is misleading to the point of meaningless. There are places in the world where $33K income has you living like a king but if you live in New York, London, or Paris, you're not going to feel too well off. All depends on where you are, how many dependents you might have, and what other commitments you have against your income.

[Basalt Beach]

Rich,

Hard to believe the data on what you shared regarding income and wealth. I shared with my better half, and we agreed, neither one of us are feeling it, thus confirming to us, one's response is more relative to where you live.

[rokdog49]

Originally Posted by HHP

The stat is misleading to the point of meaningless. There are places in the world where $33K income has you living like a king but if you live in New York, London, or Paris, you're not going to feel too well off. All depends on where you are, how many dependents you might have, and what other commitments you have against your income.

I don't know anyone who actually lives on 33k a year as a total sole source of income in New York City. London or Paris I can't speak for.

[Mr. Paul]

Originally Posted by HHP

The stat is misleading to the point of meaningless. There are places in the world where $33K income has you living like a king but if you live in New York, London, or Paris, you're not going to feel too well off. All depends on where you are, how many dependents you might have, and what other commitments you have against your income.

The stat is quite meaningful for the purpose of gaining a global perspective.

[HHP]

Originally Posted by Mr. Paul

The stat is quite meaningful for the purpose of gaining a global perspective.

Economy at the individual level can't be meaningfully measured on a global level.

Zero income in Pakistan and zero income in West Germany are vastly different but both count as zero income.

[buddyhu]

Originally Posted by HHP

Economy at the individual level can't be meaningfully measured on a global level.

Zero income in Pakistan and zero income in West Germany are vastly different but both count as zero income.

OK...it's not meaningful to you. And THAT is meaningful!!

Thanks for having such a strong reaction.

[brancher]

A while back I read "Capital In The 21st Centuryy" by Tnomas Piketty.

Not this subject specifically, but a very clear pic of the nature of global wealth, with emphasis on europe if i remember correctly.

I recommend it if you're into stuff like that.

[Otterhound]

Originally Posted by buddyhu

OK...it's not meaningful to you. And THAT is meaningful!!

Thanks for having such a strong reaction.

So , this is how you plan to make good use of your individual abundance .
Just a suggestion that you consider aiming higher .
Darned 1%ers .

[Kerbie]

This thread has been dangerously close to politics since the first post. Let's please stay away from those areas... thanks.

[frankmcr]

Originally Posted by buddyhu

According to the article linked below, if you make $32,400 a year, you are I. The top 1% of earners worldwide. The bar is higher for net worth: it takes a net worth of $770,000 to be in the top 1% in regards to wealth.

I knew I was well off...but wow...it kind of blows me away to realize how my yearly income stacks up with the rest of the world. Time to make good use of this abundance!

https://www.investopedia.com/article...cent-world.asp

From that exact same article:

"What constitutes the 1% if you just look at the US? Not surprisingly, it takes a massively higher income to crack the top percentile of wage earners; you'd have to make $450,000 in adjusted gross income (AGI) to make the cut."

So don't spend that $32,400 all at once ...

[David Eastwood]

Why perpetuate the stupid ‘1%’ shibboleth?

It’s as meaningless as the statistic in the OP. It’s just a label designed to arise emotion.

[Gmountain]

There's a lot of people in the world. And 99% of them make less than me.

Feels pretty darn good!

[buddyhu]

Originally Posted by Otterhound

So , this is how you plan to make good use of your individual abundance .
Just a suggestion that you consider aiming higher .
Darned 1%ers .

Nah...words don’t usually diminish economic abundance. Certainly, the words you quoted won’t.

I think everyone is missing my intended communication. I had come across an advertisement for a local non-profit that supports arts programs in local schools. They were seeking donations, of course, and they said that “anyone can afford to help,” because, according to them, “people earning over $21,000 per year are the richest 4% on the planet.” I did a Google search in hopes of finding a reference for the stat. Couldn’t find one, so I settled on the one I linked to in OP.

Both stats helped me to appreciate my good fortune/blessings.

No political back story. No attachment (or even much interest) in the freighted term “one percenters”.

Sometimes, the message one intends to send is not the message received. I guess I should have anticipated the kinds of posts that appeared. But I didn’t.

Oh well....

[Otterhound]

Originally Posted by buddyhu

Nah...words don’t usually diminish economic abundance. Certainly, the words you quoted won’t.

I think everyone is missing my intended communication. I had come across an advertisement for a local non-profit that supports arts programs in local schools. They were seeking donations, of course, and they said that “anyone can afford to help,” because, according to them, “people earning over $21,000 per year are the richest 4% on the planet.” I did a Google search in hopes of finding a reference for the stat. Couldn’t find one, so I settled on the one I linked to in OP.

Both stats helped me to appreciate my good fortune/blessings.

No political back story. No attachment (or even much interest) in the freighted term “one percenters”.

Sometimes, the message one intends to send is not the message received. I guess I should have anticipated the kinds of posts that appeared. But I didn’t.

Oh well....

I quoted no one .