To be among the global top 10 percent, you may not need as much money as you think. According to the 2018 Global Wealth Report from Credit Suisse Research Institute, you don’t even need six figures.
A net worth of $93,170 U.S. is enough to make you richer than 90 percent of people around the world, Credit Suisse reports. The institute defines net worth, or “wealth,” as “the value of financial assets plus real assets (principally housing) owned by households, minus their debts.”
More than 102 million people in America are in the 10 percent worldwide, Credit Suisse reports, far more than from any other country.
You need significantly less to be among the global 50 percent: If you have just $4,210 to your name, you’re still richer than half of the world’s residents. And it takes a net worth of $871,320 to join the global 1 percent. More than 19 million Americans qualify, Credit Suisse reports.
Also it’s an extremely dumb take on economics. 93,170 USD doesn’t have the same value globally. You can own an entire factory for 93k in Bangladesh and just get by in NYC - how do you calculate emissions here? So, any statistics should consider regional 1% not global.
Do you think all the modern conveniences we live with are dirt cheap over there?
Flights cost the same. Dish washers cost the same. Smart Phones and Computers cost the same.
Import costs are WAY HIGHER so getting non-local goods is much more expensive and harder.
Building code standards are not the same so odds are you don’t even have a fire detector in your house. You can say goodbye to stable electricity and you probably need to boil your water before you consume it…
Sure you can go outside and buy food for much cheaper - so long as it is locally produced. Those cheap street food vendors though… food safety isn’t really a thing so I sure hope you don’t get sick!
There are so many other factors… quality of life is nowhere near similar. That bangladesh passport aint worth shit. The US passport can get you into 148 countries without a Visa. Bangladesh? 20. The people with wealth do not want the poors in their area. They also want to believe that the poors have it better where they are so that somehow paying them a hundred bucks a month is acceptable for their labor so you can wear another graphic t-shirt or dress that costs $10-20 instead of paying the $80 an American made “living wage worker” identical shirt would cost.
Sadly few people really know how it is outside of their local area.
Nah man you’re just straight up wrong. Money value is relative. I’m a digital Nomad who lives in SEA. I literally moved here for higher quality of life for my income just like thousands of other people. I get the same dollars but the value is drastically different as so is my carbon output.
Tell me how much it costs for you to go on a vacation to singapore.
Are my dollars worth more when I go to where you are in SEA?
the value is ALWAYS the same. The costs where you are are NOT always the same. a dollar is a dollar. A dollar in NYC doesn’t get you as far as a dollar in vietnam.
A 5 million dollar property in NYC might be little more than a glorified closet, but when I sell it I get 5 million dollars. A 5 million dollar property in New Zealand might be a mansion, and when I sell it i’ll get my 5 million dollars back.
5 million dollars buys you 5 million dollars worth of things. Everyone knows it “goes further” in poorer areas but if you want to buy a share of Microsoft, it’s going to be the same price no matter where you are in the world. If you want to buy a RTX 4090 it’s going to be the same price (or HIGHER from import fees). A plane ticket basically costs the same no matter where you are from. A vacation to another country costs the same no matter where you earned your dollars.
You truly do not know the difference between how the rest of the world has it. Have you ever lived in a “third world” country? Ever spend significant time there?
Not quite.
https://www.cnbc.com/2018/11/07/how-much-money-you-need-to-be-in-the-richest-10-percent-worldwide.html
There’s a good chance you’re in the top 10%, but the global top 1% is still the upper class.
Also it’s an extremely dumb take on economics. 93,170 USD doesn’t have the same value globally. You can own an entire factory for 93k in Bangladesh and just get by in NYC - how do you calculate emissions here? So, any statistics should consider regional 1% not global.
Actually 93k USD is always 93k USD.
Do you think all the modern conveniences we live with are dirt cheap over there?
Flights cost the same. Dish washers cost the same. Smart Phones and Computers cost the same.
Import costs are WAY HIGHER so getting non-local goods is much more expensive and harder.
Building code standards are not the same so odds are you don’t even have a fire detector in your house. You can say goodbye to stable electricity and you probably need to boil your water before you consume it…
Sure you can go outside and buy food for much cheaper - so long as it is locally produced. Those cheap street food vendors though… food safety isn’t really a thing so I sure hope you don’t get sick!
There are so many other factors… quality of life is nowhere near similar. That bangladesh passport aint worth shit. The US passport can get you into 148 countries without a Visa. Bangladesh? 20. The people with wealth do not want the poors in their area. They also want to believe that the poors have it better where they are so that somehow paying them a hundred bucks a month is acceptable for their labor so you can wear another graphic t-shirt or dress that costs $10-20 instead of paying the $80 an American made “living wage worker” identical shirt would cost.
Sadly few people really know how it is outside of their local area.
Nah man you’re just straight up wrong. Money value is relative. I’m a digital Nomad who lives in SEA. I literally moved here for higher quality of life for my income just like thousands of other people. I get the same dollars but the value is drastically different as so is my carbon output.
Tell me how much it costs for you to go on a vacation to singapore.
Are my dollars worth more when I go to where you are in SEA?
the value is ALWAYS the same. The costs where you are are NOT always the same. a dollar is a dollar. A dollar in NYC doesn’t get you as far as a dollar in vietnam.
A 5 million dollar property in NYC might be little more than a glorified closet, but when I sell it I get 5 million dollars. A 5 million dollar property in New Zealand might be a mansion, and when I sell it i’ll get my 5 million dollars back.
5 million dollars buys you 5 million dollars worth of things. Everyone knows it “goes further” in poorer areas but if you want to buy a share of Microsoft, it’s going to be the same price no matter where you are in the world. If you want to buy a RTX 4090 it’s going to be the same price (or HIGHER from import fees). A plane ticket basically costs the same no matter where you are from. A vacation to another country costs the same no matter where you earned your dollars.
I’m not sure what are you trying to accomplish by repeating yourself but in a more angry manner?
whatever guy, just be another person who thinks people with more skin color or a different cultural background deserve to be paid less than you.
Since when does the cost of living only include “modern conveniences”? Have you never paid rent in your life?
I pay rent right now.
You truly do not know the difference between how the rest of the world has it. Have you ever lived in a “third world” country? Ever spend significant time there?
This obviously does not adjust for local economies. In some places $92k is considered low income.