So how much do you need to be in the top one percent? We saw the answer varies from one country to the next throughout this article. In oil-rich countries, such as the United Arab Emirates, that number will remain high. In developed countries, that number may be lower but reflect generations of wealth that a family has acquired.
On a global scale, if you have $745,000 in income, assets, investments, and other things, you’re in the top one percent. So if you have a house that is worth $750,000 and is fully paid off, you are in the top one percent, whatever your income is. If your income alone is $745,000 and you have no savings, you are in the top one percent but with a thin margin.
You can request that your wealth be used to buy a fancy coffin, but you can’t take your money with you when you die. Moreover, remember that while having enough money to have a comfortable shelter, food, and clothing is certainly a component of a “good life,” the moments that make up each of the days that you live don’t consist of money but instead of memories.
Memories are created by doing meaningful things with the people that you love. Make sure that in your efforts to build up wealth and secure a good life for yourself and your posterity, you are not neglecting the most important people in your life.
The axiom says that money cannot buy happiness, and it’s true. Money can buy many things and help you have a comfortable life; after all, who wants to go through winter without adequate shelter and heating? Yet there are some things that you have to look for outside of your income.
Studies consistently show the happiest people are not necessarily those who acquire the most money but rather the ones who give it away. They support causes that they see as worthy. Some choose to donate money to charities that support the homeless, while others contribute to environmental causes. Others give towards children’s issues. Whatever they consider valuable, they find meaning in letting their money go towards something greater than themselves. In doing so, they help to build wealth for all of humanity.