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Reply to "When do you tell kids about family money?"
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[quote=Anonymous][quote=Anonymous]I wonder how people get so wealthy. I'm an immigrant and came to this country on my own with no money, dh comes from no money. I'd say we do well, in the sense we never have to worry about having money to pay for what we need, we have savings, we invest...But I don't see us ever getting to the levels described here.[/quote] https://www.nytimes.com/2022/05/14/opinion/sunday/rich-happiness-big-data.html [i]The study didn’t tell us about the small number of well-known tech and shopping billionaires but instead about the more than 140,000 Americans who earn more than $1.58 million per year. The researchers found that the typical rich American is, in their words, the owner of a “regional business,” such as an “auto dealer” or a “beverage distributor.” ... First, rich people own. Among members of the top 0.1 percent, the researchers found, about three times as many make the majority of their income from owning a business as from being paid a wage. Salaries don’t make people rich nearly as often as equity does.[/i] [/quote]
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