MnemonicBump

I don't think anybody's disputing that. That's kind of the whole point of the post, right? Everybody here gets that.

What everybody here DOESN'T get is that this kind of poverty is also present right here in the USA. I've encountered quite a few people who seem to believe that if you live in the U.S. AT ALL, then you're automatically lumped into that 10%, when that isn't actually the case.

I find it HIGHLY unlikely that I will ever buy a house. The amount of money needed for a down payment, inspection, closing, etc. just seems astronomical to me. There's no way I'm buying a house, let alone getting 130k worth of equity out of it.

In terms of wages, I AM slightly above that 10% line, but that's like literally within the last month, so I'm not really sure what you're point is. I swear you must work in tech. Tech bros seem to be allergic to the idea that they aren't the lowest of the low

I know what net worth means. That's why I said "sitting on 130k. The threshold is 130k. The mean net worth is something like 15k globally. And I'm a 34 year old man. I make 48k/yr and that's the most I've ever made. No savings. Just cashed out all 5k of my 401k to pay rent for a couple of months. I'm just an average dude who grew up in Southern California on food stamps and state healthcare. I just couldn't afford college, so a "career" isn't really an option for me.

Yes, like I said, "around 50%" in the U.S. I'm just saying the phrase, "Chances are you're in that 10%" is highly reductive and ignorant considering that half of Americans are not, in fact, passing that threshold.

Okaaaay, but I've never had a new car, have zero savings, and despite making more money than I ever have in my entire life, I still don't even clear $50k before taxes. But I guess if it's not that hard to achieve I'll just go ahead and grab these boot straps here and- oops! They broke.

I don't and do not know anybody that owns a home. That seems like a thing from a bygone era to me tbh, and I accepted a LONG time ago that I will die working. There's no way, even with the magic of compound interest, that I could save enough to retire without starving to death.

Assistant GM at my local Taco Bell makes $60k/yr

To be considered in the richest 10% of the world population, you would need a net worth of approximately $130,000 (as of late 2024). I don't personally know anybody just sitting on 130k of money and assets. If you are, good for you, but many of us are not.

The chances of an average American being in that group is comparatively high compared to much of the world (around 50%), but still on the "Chances are..." forgone conclusion of your comment