The top 10% have a minimum net worth of $1M and the good news is that almost anyone, and I mean anyone, in the First Word that works hard and smart throughout their life can attain this “entry-level” level of wealth.
Those perspicacious enough to do what’s necessary to reach this level are then further enabled via capitalism to not only hold on to it, but to grow it. This is facilitated by the access everyone has to those professionals in the financial services industry that serve this demographic or, of course, by anyone willing to learn how to astutely manage their money themselves.
Through these advisors, one can take advantage of the advice they offer on where to invest their money, whether it be stocks, bonds or other financial vehicles. I can attest to this, as I have seen this process in action and am actually living it thanks to my own efforts to “make more monie”.
This, of course, can leave those in this segment of the population vulnerable to stock price declines, but by buying into solid companies, especially when the prices are low, then by holding ‘em for the long term and reinvesting any dividends, overall – and sometimes significant – gains are almost always realized.
The top 1% have at least $10M in net worth. These are those individuals that are called “one percenters”, as opposed to those that occupied Wall Street over a decade ago, who referred to themselves as “the 99 percent”. Today, the top 1% have as much wealth as the entire upper, middle and lower class combined, and an individual would need to earn an average of ~$500K per year in order to realistically join this group. For comparison, currently the average annual income in the First World is ~$50K.
There are many reasons for the disparity between “them and us”, but one important factor is that the “one percent” own more than fifty percent of the equity shares in private and public companies. I understand that this is possible as those that have amassed this level of wealth have access to some of the worlds best financial advisors, and to an array of regulated/unregulated hedge funds and private equity ventures.
I further understand that some of these pooled investment funds hold assets that make use of complex trading techniques to improve performance, which is great, but they do not always insulate returns from market risk as among these techniques are short selling, leveraging and utilizing derivative instruments.
Although these individuals were and continue to be vilified by the many that seemingly envy them as the wealth gap widens, I don’t think they should be. They are not the ones making the game rules of capitalism, they are mostly simply those that work hard and smart and, because they do, are winning in it.
They are spread across many industries, come from many backgrounds, and furthermore, provide goods, services and employment to many, adding value to the First World. They also came about their wealth through inheritance, which is why I also talk about the need to stop the cycle of poverty in many First World families, which can indeed take a generation or two, but nevertheless only needs to start with one.
At the next level of the wealth spectrum are those individuals who have amassed a net worth of at least $100M. Once an individual has reached this level of affluence, there is very little that they cannot experience in the material realm, having access to the best of everything there is, including experiences. For example, they may not own a private jet or island, or a superyacht, but can certainly lease them!
Note: When you have made the conscious decision to really succeed, Make More Monie will endeavor to provide you with plenty of real-world examples of individuals that have “made more monie”, and who are happy to share exactly how they did it. No throbbing music, no pounding of chests and no primal screaming. Only top-of-the-line ‘fun’ancial mentorship with bottom-line results!
Disclaimer: The information contained herein should not be construed or considered professional advice. Having said that, thanks for reading. If it resonates, “there’s plenty more where that came from”, on Facebook, Instagram, YouTube ‘n’ Twitter.