Re:Once poor, always poor?
by throwaway55421 on Monday December 27, 2021 @03:01PM
(#29706172)
I don't think that's true at all really, there are like 500,000 millionaires in my town alone.
A billion is actually just a lot of money, there's a much more finite amount of room at the top.
All you need to do to make a million quid in the UK is get a 75th percentile job and save half of it. After a few decades you are now a millionaire. I mean, everyone can't do it, but it's not some unfathomable task.
In the US I imagine it's even easier. Your median income is lower but the top end is insane.
>> All you need to do to make a million quid in the UK is get a 75th percentile job and save half of it. After a few decades you are now a millionaire. I mean, everyone can't do it, but it's not some unfathomable task.
I agree that it is possible, but it is sadly an impossible task for most. That's my point above: for those who have wealth it is easy to grow it. It takes money to make money.
My other point was that those who have a billion started with millions.
Simply because if you've such wealth already you're most likely in a position to take risks, etc.