This Is What It Takes To Be A Part Of The World’s Top 10 Percent
There are only a few countries in the world who are known as powerful and wealthy which leads to the realization that there are billions of people who are suffering from poverty. This also leads to people wondering what does it take to belong to the richest 10 percent of the world’s population.
Who Are Considered As Rich?
There are moments when people see someone living in a big house, drive a nice car, wear designer clothes, have a lot of cash or credit cards, that is when they will refer to that person as someone who is rich. Turns out expert say that this kind of thinking is for people who are considered as low-class. Referring to someone turns out to be a way of thinking depending on a situation you are in.
In the United States, over half of their population believe that in order to be considered as rich then a person must earn at least a million. The survey by GOBankingRates also showed that some think it should be more than ten million. This is where experts identified that it depends on the place. To people who are barely making it through the day, eating more than three times a day is considered a luxury. To people who are working instead of studying, going to a public school is a privilege.
What financial experts believe is that the idea of being rich comes with the relation of the words “security” and “worry”. People who are extremely wealthy have that sense of security within them, they feel secure that their family is living a comfortable life. Whereas people who are not rich tend to worry about spending, saving, and budgeting their money at all times. This adds to the wonder if how much does it take for someone to become a part of the top percentage of the world.
Worldwide Rich Percentage
It turns out that in order to become a part of the top 10 percent of the world, you would not even need to be a millionaire. Credit Suisse Research Institute revealed that in order to be richer than almost 90 percent of the people all over the world, all you need is just a hundred thousand dollars annually.
This basically means that there are more than a hundred million people in the United States who are a part of the top 10 percent worldwide even if most of them don’t really feel like it. This also means that if you have a little under $5,000 under your name, then you are richer than half of the world’s population. This now leads to people wondering how it actually happened, what they don’t realize is that there are billions of people all over the world who are living in poverty.
The persistent wealth inequality has been around for decades but it is something that is no longer deeply looked into and has been pushed aside. The only good news is that the wealth inequality is no longer rising, it is more of stuck and world leaders are not that bothered since it was around for a while now.
It may not seem fair but it may take a couple more years for other countries to be developed that could lead to more opportunities for their people to find a good source of income to live a good and comfortable life. Right now, some of the richest people in the world are living in the United States but the richest country is Qatar. Some nations in the Middle East and Africa continue to hold the record of having the most people who are living in poverty and this is all according to the World Bank study.
More in Business Lounge
Check Out These Surprising Facts You Didn’t Know About Princess Diana!
Princess Diana may have been one of the most famous royal icons in the world, but her pre-royal years were shrouded...February 27, 2019
Ken Jeong Shares a Touching Story How Bradley Cooper Helped Him While Filming The Hangover
Bradley Cooper may have dominated the headlines on the internet when he starred for A Star is Born, but he also...February 26, 2019
Check Out These Former Athletes Who Became Prominent Actors in the Hollywood Industry
Whenever we think of prominent public figures, the first thing that comes to mind is actors and actresses. These personalities dominated...February 25, 2019
The Inspiring Story of Bob Young, a Graduate Who Had No Job When He Founded Red Hat
IBM Buys Red Hat Bob Young was an unemployed man who was working from the sewing closet of his wife in...February 25, 2019
See How Much Celebrities Earn On Twitter and Instagram
With this generation, everything that is happening into the lives of the people are broadcasted on every social media platforms. From...February 25, 2019
How To Hire The Best Employees For Your Business
With an international pool of competitive workers and employees applying and competing for your job post, finding the right employee for...February 25, 2019
Tips on How to Organize Your First Office
Setting up your office for the first time can be overwhelming. Once you get an office, there’s a lot that you...February 20, 2019
‘Solo: A Star Wars Story’ Becomes The First Film In The Franchise To Flop
The Star Wars franchise go way back and it has indeed managed to gather its own fandom over the years. Even...February 20, 2019
Louise Redknapp is Back With a New Album For Her Solo Pop Career After 15 Years!
Despite her stunning performances in the musical production of 9 to 5 as well as being a contestant in Strictly Come...February 19, 2019