With the ever-increasing growth off social media and pop culture, you would be forgiven for thinking that you might be poor. I mean, have you seen those 100 million-dollar Mansions these wealthy people are buying? It’s no wonder then you might be wondering how you stack up on the Global Rich List.
Statistically, the fact that you are reading this means that you most likely are already in the top 1% of global earners. Wait, did you say 1%? Yes!
The majority of readers of this Blog live in a first world country. On a global scale, people living in these countries are amongst the richest people on this planet.
How can that be? Today, I hope to provide some context and point out some glaring things that show just how wealthy you actually are. This is how you stack up on the global rich list.
Where am I on the Global Rich List?
A very good indicator off your wealth is based on your yearly income. In the Western World, this has been the measure of success for many people. Of course, other people might have their opinions but the vast majority believe this to be true.
For this experiment, let’s only take your individual income and assume that you do not have any children and live in the United States. Here is where you would rank on the global rich list.
|Yearly Income||Global Rich Percentile|
Based on this chart and the assumptions that we made, if you earn $20,000 or more per year (or $9.62 per hour), you will be in the top 10% of the entire planet! That means, 90% of earners on the planet earn less money than you! Crazy right?
Global Rich List Buying Power
To make this a little more interesting, how about we figure out what money can’t buy depending on where you live. Not only do you most likely rank much higher than you thought you would, but your earnings can also afford you much more than you realize.
- $8 in Honduras can buy you 15 Apples
- $30 in Haiti can buy you a First Aid Kit for an entire village
- $73 in Uganda can buy you a new mobile health clinic to care of AIDS orphans
- $2,400 in Angola can pay for an entire generation of school children to attend school
In wealthy countries like the United States, these price tags range from maybe a shirt or a brand new Mac computer. This really gives an interesting perspective on how much money we spend in a wealthy society on things luxuries when the same could change people’s lives in the world.
Keep track of your own finances
Now that you have a good idea of how well you probably rank globally, the next step is to better your financial future! Here’s a quote:
What gets measured gets improved ~ Robert SharmaTweet
If you want to work on and improve your finances, you have to keep track of it! There is no better tool out there than Personal Capital.
I personally use this to keep track of my finances, my net worth, and my retirement goals! Seriously the best personal finance app out there. Costs you nothing to use, but might be the difference between financial success and financial ruin.
Looking at the two examples above, the amount of perspective you have on a global scale is very humbling. It’s easy to forget how wealthy most of you are in comparison to the entire planet.
The idea of abundance and wealth that has proliferated the media has made everyone believe they need loads of stuff to feel wealthy. Well, as this graph shows, you most likely already live in the top 10% of global earners.
Now that you understand just how wealthy you are, here are some fantastic resources to better manage that enormous wealth you possess!
- Dave Ramsey’s 7 Baby Steps: How To Win With Money
- How To Budget Your Money – Complete Beginners Guide
- Emergency Fund – What Is It & Do You Need One?
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