According to the 2018 Global Wealth Report from Credit Suisse Research Institute, to be among half the people around the globe, you’d only need US$4,210 to your name.
The report also found that to be in the midst of the top 10 percent, you don't even need six figures. A net worth of US$93,170 is enough to make you richer than 90 percent of people worldwide.
It takes significantly more to join the global 1 percent, Credit Suisse reports: a net worth of US$871,320.
The institute defines net worth, or “wealth,” as “the value of financial assets plus real assets (principally housing) owned by households, minus their debts — including any mortgages.”
So if this is true, why are so many people still busting themselves every day? Well, for some, it is the enjoyment of work. But, for most people, the biggest problem is they are confined in huge debt; and loan payment usually transforms the working class into bank slaves. It’s mind-boggling if you think about it.
Putting liability aside, someone who is debt-free could stash away US$100,000 in a bank account, then sneak up to his or her spouse and say: “Honey, we are lucky enough not to be among the other 90 percent of people around the world. Let’s relax and enjoy ourselves and start living our life.”
Will people do it? Honestly, I’m skeptical they will. Why? Because there’s this constant nag inside their brains: the mania for more and never having enough. Apparently homo sapiens have been passing down this dominant trait since ancient times. Here’s one old tale:
When King Pyrrhus of Epirus was approached by his friend Cyneas, he was asked: “If you conquer Rome, what will you do next, sir?”
Pyrrhus replied, “Sicily is just next door and will be easy to take.”
“And what shall we do after Sicily is taken?”
“Then we will move to Africa and sack Carthage.”
“And after Carthage, sir?”
“The turn of Greece will come.”
“And what, may I ask, will the fruit of all these conquests be?”
“Then,” said Pyrrhus, “we can finally sit down and enjoy ourselves.”
“Can we not,” said Cyneas, “enjoy ourselves now?”
Poor people think they will be happy when they become rich. Rich people think they will be happy when they are rid of their ulcers.