.Millionaire Statistics, Facts and Resources for 2020

Millionaire Statistics, Facts and Resources for 2020

How Many Millionaires Are There?

There are several methodologies used to determine an answer to this simple question, resulting in many different answers. Be sure to understand how the calculations were made so that it’s consistent with how you want to use the data. After much of our own research, below are the sources and statistics that we believe are the best.

Credit Suisse’s latest global wealth report shows there are 46.8 million millionaires (measured in USD) worldwide, up 1.1 million over the last 12 months.

Of those, 40% or 18.6 million individuals are in the United States

This means that about 7.6% of the U.S. adult population are millionaires

Which indicates that approximately 14% of U.S. households are in the millionaire club

With a median wealth of $65,904 for an adult in the U.S., $1,000,000 represents 1517% of the median

The annual increase in global wealth per adult was 2.6%

After the U.S at 40%, the next highest 5 countries for millionaires are China 10%, Japan 6%, United Kingdom 5%, Germany 5%, and France 4%.

These top six countries represent 70% of the world’s millionaires

If you’re a millionaire, you are in the top 0.6% of wealth for the world’s population

The nine cities with the most millionaires, in decreasing order are Tokyo, New York City, London, Paris, Frankfurt, Beijing, Osaka, Hong Kong, and Shanghai

There is often debate on how to calculate how many millionaires there truly are. Some researches use household wealth to identify millionaires, which can be misleading.

For example, in the U.S. there are 2.58 people per household on average, which calculates to average wealth per person of $388,000 if the household had exactly $1,000,000. Therefore, research based on households will typically overstate the number of individual millionaires.

 Another difference that can be misleading is that some researchers consider the equity an individual has in their home as part of their wealth, while other researches only count those with liquid investable assets of at least $1,000,000.

Those that use liquid asset methodology may undercount individuals worth at least $1,000,000 especially in regions where housing is expensive. Neither methodology is superior, but it’s important to know what’s underneath the numbers so that you can cite the right statistics for your application.

Current projections are that 1,700 new U.S. millionaires are made every day

Millionaire Behaviors

Education is important, with 84 percent of millionaires having a college degree according to Spectrem

From another Spectrem study, on a 100 point scale, millionaires rated the importance of having a regular saving program at 82, reflecting their strong belief of its importance to their wealth

One in three funded their own college education without debt

 there’s More:

To continue reading, please go to the original article here:

https://millionairefoundry.com/millionaire-statistics/

..The Money Counterfeiters

The Money Counterfeiters

The Final Wake Up Call By Peter B Meyer

Central Banks and Tax Offices Are Cabal Owned Corporations

Inflation Is Plain Theft Eventually Leading To Stagflation

Free Money Is A Scam Corrupting Society

The Deep State Is Losing Global Control

In the two previous articles here and here readers have been revealed the corrupt money system and how and why it was created, plainly for the purpose as tool to putting all of us in debt slavery.

 After about 110 years, from which the last 50 years only backed by paper, the Deep State’s fiat dollar system is now running out of steam and blowing itself up.

Because, they haven’t been able to create a world event – e.g. WW3, to urgently replace the system with another fraudulent money scheme. Prearranged, the so called SDR-World money system, run by the IMF in the function as central bank for the whole world.

Under the existing fraudulent monetary system, debt in real terms, becomes impossible to be repaid, whereas the required debt liquidation can only be accomplished by debasement of the currency, i.e. inflation.

Fake money rewards the special interest groups most closely associated with money managers: to name a few, the Deep State mob, the military industrial complex, Wall Street, Banks, and the many beneficiaries of government spending.

Unfair distribution of wealth is a characteristic of a fiat monetary system and is being witnessed today in its extreme.

As an example; the three richest people own more than the bottom 50% of the world’s population.

Fiat money dislikes morality and creates an immoral society. It requires the rejection of a convertible commodity standard, and can only be enforced with powerful legal tender laws.

Economic bubbles are the monsters birthed by fiat currencies and central bank money supply and the manipulation of interest rates. A fiat currency removes a definable unit of account, which is needed for sound economic calculation.

The real issue with the market is that stocks and real estate are extremely overvalued, thanks to the central bank’s money printing, which has created a fake rally through its secret actions by continuously pumping fake money into the system.

The only thing really is supporting the markets is the Central Bank with all the money they are printing. Everyone knows it. They only refuse to admit it. There is no strong economy behind all this. It is an inflation-driven bubble.

Most importantly, the central bank global fiat financial system is being brought to the point of deflation, meaning less debt-money is in circulation, which automatically forces the Deep State to surrender their global control.

To continue reading, please go to the original article here:

http://finalwakeupcall.info/en/2020/02/05/the-money-counterfeiters/

.Magnitude Matters

Magnitude Matters

Rand Spero  |  January 16, 2020

WHY DON’T WE spend our time and energy on financial issues that have the greatest impact? We’ll drive to a more distant gas station to save 10 cents a gallon, but fail to do all the maintenance needed to extend the life of our car. What lies behind this sort of behavior?

The savings from getting the best price per gallon is concrete and immediate, while maintaining our car is long term and abstract. It’s simply easier to focus on the 10 cents.

I have a relative who stayed at a $500-a-night luxury hotel in downtown Boston. He emailed me to bring him water when I visited, because the hotel charges $5 per bottle.

Yes, the hotel is pushing the envelope with its water bottle charge, but my relative claiming he won’t pay “on principle” seems like a stretch. Such “injustices” occur when we have concrete price expectations, while we happily tolerate other, much higher costs.

Deciding on a college is a huge investment of time and money. Yet as my family dashed from one campus visit to the next, I wondered if we were being good consumers. Were we prioritizing colleges based on which tour guide captured the interest of our daughter? 

Perhaps we needed to slow down and do more extensive research. When my daughter decided to apply early decision to a nearby university, we suggested she visit the school a second time. She spent a full day talking to students and sitting in on classes, and came back enthused. It proved to be a good fit.

The importance of considering the financial magnitude of a decision became apparent when I went house shopping with a friend. He was moving into town for work and wanted to get settled quickly.

As we raced between showings, one desirable property stood out. There was a crowd at the open house and the broker indicated it would move fast.

 All bids would be accepted by Sunday evening and the winner would be announced the next day. My friend got caught up in the frenzy and wanted to know what bid might be needed “to win it.”

It struck me as amusing that we had spent just 45 minutes looking at the desired house for sale. I asked my friend how much time he would spend looking at a high-priced sweater. He proudly indicated that he was a bargain shopper.

My friend added that, if he were going to pay a lot for an item of clothing, it had better be worth it. Yet soon he could be obligated to spend hundreds of thousands of dollars for a house, initiating this decision after spending less than an hour.

Want to make better purchasing decisions? Try asking these five questions:

What dollar amount are you actually spending or saving?

Are you sidetracked by focusing on low-cost items that are more easily understood?

Do you cite “principle” to defend fretting over small expenditures?

On big ticket items, have you established clear criteria before purchasing?

Have you allocated time and energy that’s appropriate, given the financial magnitude of a decision?

 There’s More::

To continue reading, please go to the original article here:

https://humbledollar.com/2020/01/magnitude-matters/

.The Laws of Investing

The Laws of Investing

By Morgan Housel

Think of how big the world is. And how good animals are at hiding. Now think about a biologist whose job it is to determine whether a species has gone extinct.

Not an easy thing to do.

A group of Australian biologists once discovered something remarkable. More than a third of all mammals deemed extinct in the last 500 years have later been rediscovered, alive:

We identified 187 mammal species that have been missing (claimed or suspected to be extinct) since 1500. This number includes all such mammals for which we were able to find key variables for analysis. In the complete dataset, 67 species that were once missing have been rediscovered.

A lot of what we know in science is bound to change. That’s what makes science great, what makes it work, and what distinguishes it from religion. Science is filled with rules, evidence-based theories, and probabilistic observations. Laws – immutable truths lacking exceptions – are rare. Most fields only have a handful.

But the handful of laws that exist have a special function: they’re the great grandmothers, the old wise men, of the day-to-day theories and rules used to discover a new truth. There’s a hierarchy of science: laws at the bottom, specific rules above that, then theories, observations, hunches, and so on.

The higher you go on the pyramid the more exciting things become. That’s where discovery and opportunity live. But everything at the top of the pyramid must respect the laws at the bottom.

The idea of flexible rules deriving from unshakeable laws applies to every field. John Reed writes in his book Succeeding:

When you first start to study a field, it seems like you have to memorize a zillion things. You don’t. What you need is to identify the core principles that govern the field. The million things you thought you had to memorize are simply various combinations of the core principles.

Same thing in investing.

What’s an investing law? There’s no definition, so I’ve taken some liberties here. I try to limit them to forces that influence all types of investments, in all sectors, in all countries, throughout all of history, with few exceptions, and some explanation for why it will continue indefinitely.

A theme here is that investing is not just the study of finance. It’s the study of how people behave with money. So most of these “laws” describe a universal feature of how people respond to risk, reward, and scarcity.

They are simple. But they are, I think, part of a foundation that governs most of what happens in investing, and will keep happening as long as investing exists.

Law #1: Optimism and pessimism will always overshoot because the boundaries of both can only be known in hindsight, once they’re passed.

The correct price for any asset is what someone else is willing to pay for it, because all asset prices rely on subjective assumptions about the future. And like a blind man who doesn’t know where a wall is until his cane touches it, markets cannot know when optimism or pessimism has gone too far until they bump into the limits and enough investors protest in the other direction.

There’s More

To continue reading, please go to the original article here:

https://www.collaborativefund.com/blog/the-laws-of-investing/

.How to Find Your Money ‘Why’

How to Find Your Money ‘Why’

By Katherine Fusco | November 8, 2019

There are lots of reasons to spend money, some good, some bad, most compelling. Of course, this is by design.

Not spending money, though… that’s a trickier thing. The reasons not to spend—or to save, if you’d like to put it more positively—are often vague, rooted in a fuzzy sense of what one should do.

When people are tired or temptations are especially aggressive (hello, holiday season!), the vague I should pay off my debt crumbles in the face of beautiful store displays or delicious scents wafting from strategically open bakery doors.

More than this, advertising often appeals to our sense of self, frequently tying products to concepts or feelings that we truly believe in. How many bath bombs have been purchased on credit cards in the name of self-care? How many unused vitamins and supplements under the name of wellness?

Pink things for breast cancer awareness? Maybe an embarrassment of water bottles and reusable bags under the name of environmentalism, even though the environmental thing would be shopping less overall?

Against all these compelling, ego-supporting reasons to shop, the vague “adulting” calls to save more and spend less don’t stand a chance.

Just as advertisers know to tap into your sense of self through fairly specific identity appeals—Are you a dog-loving hiker? Here’s a four-wheel drive station wagon—you can also meet your own financial needs by developing your own money mantra, or “why.”

The importance of considering our feelings and values when it comes to money has gained traction in the field of economics. As the journal Applied Economics reports, “individualized cultural values measures do indeed explain part of the financial behaviour of households.”

 Becoming more concretely aware of cultural, familial and personal values might thus be an important key to better personal finance.

Here are a few techniques to use for getting in touch with your money “why”:

1. Tap Into Your Core Values

What’s most important to you? Unlike with the next two exercises, you’re allowed to be a bit vague here. You might find yourself naming things like “beauty,” “health,” “community,” “family” or even something grander like “justice.”

Faced with spending decisions, you might ask yourself whether a purchase supports your core values. Now, sometimes the answer is an obvious “no.” This new lip-gloss/headset/hamburger does not contribute to social justice.

But, sometimes advertisers will attempt to target your core values in sneaky ways. For example, a fuel-efficient car seems like a truly environmental choice; however, it’s not as environmental as simply not buying something.

In her book Loaded, behavioral economist Sarah Newcomb writes about these values in terms of “needs” and explains that the infamous “latte factor” can in fact be scratching the need for “social connection.” If you enjoy visiting your local coffee shop.

To continue reading, please go to the original article here:

https://www.success.com/how-to-find-your-money-why/

.What to Do When Money Causes Friend Drama

What to Do When Money Causes Friend Drama

By Rachel Miller  Jan 15 2020

When a pal keeps suggesting restaurants you can't afford or making snide comments about your salary, it's time to say something.

Knowing you have to have a money conversation with someone is stressful. Even fairly straightforward situations can lead to endless procrastination followed by an hour of strategizing with a close friend before you finally text your roommate… “Hey, could I get the rent check from you later today?”

 But the anxiety makes sense: a person’s finances can be deeply intertwined with their ego, identity, beliefs, and sense of self-worth. And because talking about money often means communicating a desire or a need, it can leave us feeling very vulnerable.

But when a friend keeps suggesting pricey activities you can’t afford, or constantly makes snide comments about your salary, avoiding the topic is only going to make things worse in the long run. Learning how to deftly handle these situations is good for your financial health, and the long-term health of your friendships.

Remember you can never really know what’s going on with someone else’s bank account.

When going into these conversations, it’s a good idea to avoid making assumptions about other people’s finances.

Even if you know what a friend’s salary is, or can infer certain things based on, say, their lifestyle or past comments, none of us really know what’s going on with someone else’s bank account.

People have staggering debt, medical bills, bad credit, trust funds, credit card points, job perks, alimony agreements, parents who support them, parents who they are supporting, as well as personal desires and values that influence what they want (or don’t want) to spend their money on.

 And because money is so tied up in self-image and can be a big source of shame, a lot of people simply… don’t ever mention any of this stuff to their friends.

We all know, intellectually, that most people are fairly private about their finances, and that everyone’s definitions of “broke” and “worth it” and “reasonable price for a bridesmaid dress” are going to be different… but it’s easy to forget that when we want certain stories to be true, or when everything would be easier if others’ perspectives were aligned with our own.

If you’re frustrated with how a friend is acting with regard to money, it can be helpful to remember this, and to try to approach the situation from a place of genuine curiosity and generosity.

Make money talk a natural part of everyday conversations.

The best way to avoid money drama with friends is to be proactive about expectations in casual discussions where it’s relevant. That could mean asking what amount people are comfortable paying, suggesting activities at a range of price points, and being clear about who is paying for what. It might sound like...

To continue reading, please go to the original article here:

https://www.vice.com/en_us/article/5dmg3k/talking-about-money-with-friends?utm_source=stylizedembed_vice.com&utm_campaign=xgqwy7&site=vice

.What to Do When a Friend Owes You Money and Hasn't Paid Up

What to Do When a Friend Owes You Money and Hasn't Paid Up

By Rachel Miller Jan 29 2020

You might decide that getting your cash isn’t worth a big to-do with a close friend… but if it’s an acquaintance who stiffed you, or a lot of money is at stake, that might be an entirely different story.

Conventional wisdom says that you shouldn’t loan money to friends… but anyone who tells you that has clearly never tried to book an AirBnb for eight people who live in different states, or asked a waiter to split a bill five ways. At some point or another, you or your friends will owe each other money.

 Ideally, this will be resolved quickly: you will send a Venmo request, they will accept, life will go on. But of course, that won’t always be the case. In instances where things are more complicated, here’s how to handle it.

Follow up about the money they owe first, assuming good intentions.

If someone has owed you money for two months, it’s easy to get very worked up about what a bad friend they are. But so often, the person has just forgotten about the situation entirely, and would be mortified to know you were stressed about bringing it up to them.

So give them the benefit of the doubt and approach them with an open, neutral tone. If the socially acceptable padding of a few days has gone by when you make this ask, giving them a firm deadline a few days out is a nice thing to do. So you could say, “Hey, I’m not sure if you saw my Venmo request from Monday for the Airbnb, but would you mind accepting that?”

Call out the fact that it’s becoming A Thing.

If you’ve already asked a few times and they’ve definitely not forgotten about it, you don’t need to take them at their word when they swear that they’ll pay you back tomorrow. It’s totally reasonable to ask them what their deal is.

What to say:

“I hate to keep bugging you about this, but I really need to be paid back for the drinks from last month. I’m not sure what’s going on, but can you just Venmo me right now?” (A good option if the conversation is happening in person.)

“Hey, when we talked the other day, you said you’d pay me back on Friday. We’ve been going back and forth about this for weeks now… what’s going on?”

To continue reading, please go to the original article here:

https://www.vice.com/en_us/article/xgqwy7/someone-owes-me-money

.How to Prepare for an Economic Slowdown

How to Prepare for an Economic Slowdown

How to Prepare Your Money for the Coming Economic Slowdown

By Denise Hill on 23 October 2018

 Predicting an economic downturn can seem as mystical and convoluted as reading tea leaves. However, the economic tea-leaf readers — financial experts — are warning that the economic winds are changing.

Even though unemployment is still low, there are other economic indicators causing financial analysts to predict lean financial seasons. First, economic growth has all but stalled.

The rate of wage increase has stagnated. The Constant Maturity Treasury (CMT) rates, which are used to measure and predict future interest rates, economic growth, and output, are near flatlining — and threatening inversion. This means that as the economy continues to slow down, consumer interest rates will rise and investment earnings will lose momentum, possibly even losing money.

Preparing for a recession is similar to preparing for a tropical storm: There's no way to predict just how bad things will get, but burying your head in the sand and hoping for the best is a horrible idea. Here are a few things you can do to stormproof your finances against the coming economic slow down.

Beef Up Your Emergency Fund

The first thing you do when prepping for a storm is prepare your home for the onslaught. People in coastal areas board up windows and surround their homes with sandbags. An emergency fund does the same thing financially. It's the added installation and protection that can assist you when the economy dips.

It can't stop the winds, or prevent the rain, and it may not stave off all damage, but it does provide an added layer of protection. And it provides you a fighting chance to preserve what you've worked so hard to build.

The traditional emergency fund is anywhere from three to six months' worth of daily living expenses — and even larger for people with high expenses, large salaries, or a job that would be difficult to replace. During lean economic times, you want to save more than the standard recommended amount.

Under normal circumstances, the average bout of unemployment lasts roughly three to six months. However, experts believe that number is slowly creeping up and could double in a sluggish economy.

It has been suggested that you plan to be unemployed at least one month per every $10,000 you earn. So if you earn $70,000 a year, you should plan for an unemployment that lasts at least seven months.

 This formula is a great gauge in helping you determine how much you need in your emergency fund. (See also: 7 Easy Ways to Build an Emergency Fund From $0)

Adjust Your Budget And Pay Down Debt

Another thing people do during an impending natural disaster is purchase supplies and nonperishable food items. This ensures that they will have something to eat during a major power outage and food shortage. Adjusting your budget by reducing expenses in preparation for a financial disaster follows the same principal. Even though during a disaster you can't eat steak and lobster, you do still eat. The same is true when money is tight.

To continue reading, please go to the original article here:

https://www.wisebread.com/how-to-prepare-your-money-for-the-coming-economic-slowdown?ref=relatedbox

.How Tariffs Impact Your Finances

How Tariffs Impact Your Finances

Tariffs: What They Are and How They Impact Your Finances

By Tim Lemke on 16 March 2018

President Trump recently announced new tariffs on imports of steel and aluminum, in a move that got mixed reviews from business and political leaders. The new tariffs would increase levies on aluminum by 10 percent and steel by 25 percent.

There is much debate about the sensibility of these tariffs, but rather than wade into that morass, let's examine what tariffs are and how they impact the economy and your investments.

What Is A Tariff?

A tariff is essentially a tax that the government places on imported items. For example, the government may choose to place a tax on foreign cars or imported cotton.

There are tariffs placed on an eye-popping number of products, from building materials and vegetables, to chemicals and even live animals. Tariffs can be imposed on a per-item basis, by weight or size, or by percentage of value.

Tariffs can even vary depending on the country. For example, the U.S. may impose a tariff on shirts made in China, but not in Vietnam. The United States imposes tariffs on imports from many countries, but also has free trade agreements with many nations that allow both parties to import goods without tariffs.

Why Do Tariffs Exist?

The first tariffs in the United States came shortly after the nation ratified the Constitution, and were motivated largely by the government's need for revenue. Tariffs played a big role in funding the government in the days before income taxes.

To continue reading, please go to the original article here:

https://www.wisebread.com/tariffs-what-they-are-and-how-they-impact-your-finances

.Repo Markets in Panic

Repo Markets in Panic

The Final Wake Up Call By Peter B Meyer

The Stage Of Self-Destruction

The Credit Cycle

The Function of the Repo Market

It Is Getting Very Ugly For the Big Banks

Scrambling For Liquidity Scarcity That Cannot Be Resolved

Market Melt-Up and Meltdown

Summary

 The End Of Existing Global Financial Debt-Money System

Reflation is a fiscal or monetary policy, designed to expand a country’s output and curb the effects of deflation. This now is going in reverse, changing in the opposite direction. In fact, debt reflation in the opposite direction is deflation of debt, making the economic situation worse, leading to contraction, propelling the economy into a collapse.

Less debt means less debt-money or credit-money in circulation, which are the same for a better understanding. Therefore, there is less money in circulation, meaning lack of available money. In other words, it is the end of the existing global financial debt-money system.

When a central bank economy is contracting it automatically creates a shortage of new debt, thus available debt-money too. That – and not a lack of any reform is triggering the Repo crisis.

Any financial system based on debt-money, like the current will blow up anyway. No paper-money system has ever survived a full credit cycle, because paper money – is a form of primitive, credit/debt-backed money – without any discipline it is unlimited.

Clearly the Rothschild owned Central Bank and the Deep State mafia are getting scared as they are running out of ammunition. They weren’t able to create WW3 necessary for a reset of this corrupt system.

The fact that the Rothschild controlled Central Bank of Japan, and the ECB in Europe were forced to resort to negative interest rates, proves their fake fiat monies are worth less than nothing. As an unwanted consequence, the US Federal Reserve Board has been forced to do the same thing.

 Reaching a situation; wherein more money has to be put in the banks, although that money is vanishing rapidly – because of the debt deflation – increasing the need for more fresh money, and that is exactly the root of the Repo market crisis, which started in September 2019.

The Stage Of Self-Destruction

For at least the past one hundred-ten-years, the monetary system has been manipulated, bringing the world to its knees through financial engineering that should have been alarming on its own for every well-educated economist. But the majority of economists have been masterfully kept in the dark about the hidden agenda, despite the occasional ringing of bells by people who had gained insight into the deception.

To continue reading, please go to the original article here:

http://finalwakeupcall.info/en/2020/01/29/repo-markets-in-panic/

.Why an Accountant Is Worth the Money

Why an Accountant Is Worth the Money

By Max Wong

 Anyone who is at all familiar with me knows that my yearly earnings put me squarely in the economic category commonly referred to as the Working Poor. So when I mention that I pay $550 a year for an accountant to help me with my finances, people typically give me that sad look that they reserve for mediocre subway violinists and ugly babies.

And then there's the thick pause in the conversation when the other person decides against asking this question out loud: Um, don't you write about personal finance?

In answer to the silent, questioning looks, and in defense of my financial decisions, there are so many reasons why my accountant is worth the money.

1. An Accountant Is Cheaper Than Therapy

Oh my God. What if I forget something?

I would rather get oral surgery than do my own taxes. My financial life is complicated. I own a rental property. I run two separate businesses out of my home. I got 1099 forms from five different companies last year. I have a grant. I go to school part time. There are so many moving pieces in my life that just organizing my paperwork in preparation for my tax meeting with my accountant stresses me out.

As a reasonably organized person who spends a lot of time thinking about personal finance, I'm in that dicey position of knowing enough to get myself into trouble, but not enough to get myself out. I would rather pay and be sure that my finances are in order than spend hours filing my own taxes and still feel dread.

Additionally, my accountant is available to answer my financial questions all year long. While some accountants bill by the hour, my accountant rolls my calls about health care costs and asset depreciation into that yearly $550 flat fee.

2. They Can Save You Time (and Time Is Money)

I do my taxes once a year. My accountant does taxes all year long and all the livelong day. Guess who's better at doing taxes?

My accountant is a virtuoso with a calculator. She can hit the keys with the speed and precision of a concert pianist. Doing your own taxes isn't rocket science. That said, my father-in-law is actually a rocket scientist and even he uses an accountant! Why? Because it's cheaper for him to outsource his tax chores to a professional, so he can use the time he saves to make money doing something he enjoys.

To continue reading, please go to the original article here:

https://www.wisebread.com/14-reasons-why-an-accountant-is-worth-the-money?ref=seealso