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Thread: Are you part of the 1%?

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    Default Are you part of the 1%?


    Just how much money do you need to be among the global 1 percent?

    According to the 2018 Global Wealth Report from Credit Suisse Research Institute, you need a net worth of $871,320 U.S. Credit Suisse defines net worth, or "wealth," as "the value of financial assets plus real assets (principally housing) owned by households, minus their debts...."



    ... To be among the top 10 percent worldwide, you don't even need six figures: A net worth of $93,170 will do it.

    And even if you have just $4,210 to your name, you're still richer than half of the world's residents.



    How much money you need to be part of the 1 percent worldwide
    Last edited by deathb4disco; 11-01-2018 at 08:01 PM.

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    Barnacle Bill is offline Super Mod and 2014 Crappie.com Man of the Year * Crappie.com Supporter
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    Pshaw!! I've got enough money to last me the rest of my life. If I don't live past Monday.
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    Quote Originally Posted by Barnacle Bill View Post
    Pshaw!! I've got enough money to last me the rest of my life. If I don't live past Monday.
    Hahahaha

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    [QUOTE=deathb4disco;3720332]Just how much money do you need to be among the global 1 percent?

    And even if you have just $4,210 to your name, you're still richer than half of the world's residents.


    [url=https://www.cnbc.com/2018/11/01/how

    most people i know live on credit an dont own anything. looks like the do though. thats what matters to them.

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    Quote Originally Posted by deathb4disco View Post
    Just how much money do you need to be among the global 1 percent?

    According to the 2018 Global Wealth Report from Credit Suisse Research Institute, you need a net worth of $871,320 U.S. Credit Suisse defines net worth, or "wealth," as "the value of financial assets plus real assets (principally housing) owned by households, minus their debts...."



    ... To be among the top 10 percent worldwide, you don't even need six figures: A net worth of $93,170 will do it.

    And even if you have just $4,210 to your name, you're still richer than half of the world's residents.



    How much money you need to be part of the 1 percent worldwide
    Wow! I was expecting the figure to have 3 more zeros after it. Regardless of your income, not having any debt is a wonderful thing.
    Mark 1:17 ...I will make you fishers of men
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    Quote Originally Posted by SeaRay View Post
    Wow! I was expecting the figure to have 3 more zeros after it. Regardless of your income, not having any debt is a wonderful thing.
    I would have thought the same thing. Not hard to make 93k when you are debt free. It feels great to be debt free, but I never knew I was in that class!! Top 10% and still can't retire..lol
    Likes Redge LIKED above post

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    Just to be clear, the OP is talking about net worth (assets minus debt), not income.

    For income levels (US only), see here:

    https://www.crappie.com/crappie/off-...8-upper-class/


    As a side note, we are very fortunate to live in the USA:


    Despite progress in reducing extreme poverty, nearly half the world's population lives on less than $5.50 a day, with a rising share of the poor in wealthier economies, the World Bank said Wednesday....

    ... And poverty is becoming entrenched in Sub-Saharan Africa, where 84.5 percent of the population still live on less than $5.50 a day, the report said.


    Nearly half the world lives on less than $5.50 a day: World Bank

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    Quote Originally Posted by deathb4disco View Post
    Just to be clear, the OP is talking about net worth (assets minus debt), not income.

    For income levels (US only), see here:

    https://www.crappie.com/crappie/off-...8-upper-class/


    As a side note, we are very fortunate to live in the USA:


    Despite progress in reducing extreme poverty, nearly half the world's population lives on less than $5.50 a day, with a rising share of the poor in wealthier economies, the World Bank said Wednesday....

    ... And poverty is becoming entrenched in Sub-Saharan Africa, where 84.5 percent of the population still live on less than $5.50 a day, the report said.


    Nearly half the world lives on less than $5.50 a day: World Bank
    I understood it was net worth. Been retired since 2002 so income would pale in todays world, or maybe not after reading this.
    Mark 1:17 ...I will make you fishers of men

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    Net is all that counts. It's not how much you make but how much you keep.

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    Quote Originally Posted by Barnacle Bill View Post
    Pshaw!! I've got enough money to last me the rest of my life. If I don't live past Monday.
    Got you beat, my financial guy said I could make it till next Tuesday if I stick to the Beanie Weenies.
    Likes Redge LIKED above post

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