What Are The Odds Of Becoming Rich? [Infographic] by the team at NeoMam
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I suppose that when we discuss rich, or becoming rich we must first define what rich is. That isn’t as easy as it would seem. Certainly we can all agree on the upper limits such as billionaires. But there are also lower levels that most of us would consider rich. Where those lower levels change from “comfortable” to rich is very fluid though.
When I was a kid anyone with total assets of a million dollars was really rich. Now not so much so. Now to be classified as a millionaire one must have $1,000,000 in liquid assets, not including home and other fixed assets. Personally, I’m not sure even that makes one rich today.
Maybe age is also a factor. A 70 year old with a million dollars is probably richer than a 20 year old with the same amount. Why? Being rich must also consider having enough money to last for the balance of your life span. Isn’t that really more to the point than whether or not one can afford a second home or a luxury car?