Aug 14, 2008

You're Rich!

A friend shared this article with me, and I wanted to share an excerpt with you. I know we've all "heard it before," but I hope by bringing it up again, we'll all take the time to think about what this means for our personal spending/giving habits.

In fairness, Jacob pointed out that this particular study doesn't take into account issues of cost-of-living and buying power... but, it is still important to really pause and think about our own habits and our responsibility (yes, I mean responsibility) to the "other half" of the world.

Got $2,200? In this world, you're rich
By: MarketWatch

The richest 2% of the world's population owns more than half of the world's household wealth.
You may believe you've heard this statistic before, but you haven't: For the first time, personal wealth -- not income -- has been measured around the world. The findings may be surprising, for what makes people "wealthy" across the world spectrum is a relatively low bar.

The research indicates that assets of just $2,200 per adult place a household in the top half of the world's wealthiest. To be among the richest 10% of adults in the world, just $61,000 in assets is needed. If you have more than $500,000, you're part of the richest 1%, the United Nations study says. Indeed, 37 million people now belong in that category.

Sure, you can now be proud that you're rich. But take a moment to think about it, and you'll probably come to realize that the meaning behind these numbers is harrowing. For if it takes just a couple of thousand dollars to qualify as rich in this world, imagine what it means to be poor.

Half the world, nearly 3 billion people, live on less than $2 a day. The three richest people in the world –- Microsoft Chairman Bill Gates, investor Warren Buffett and Mexican telecom mogul Carlos Slim HelĂș -- have more money than the poorest 48 nations combined.

The world's total wealth is valuated at $125 trillion. Although North America has only 6% of the world's adult population, it accounts for 34% of household wealth.


Anita A. said...

Have you ever seen this website Enter your income and it shows you where you are in the world on the scale from richest to poorest. Most Americans will be surprised where they rank.

sara said...

wOw. I would never have put us & rich in the same sentence. How naive, I guess. Especially after hearing the president of Compassion International speak..I am sure that you feel it every day living in China..


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