Wealth in America

wealth

What does wealth in America look like to Americans? Most of us probably look at celebrities and how they have large homes with six exotic cars in the driveway and describe that as wealth. Others just believe it is having enough saved for financial emergencies. And some may not even have a concept of what wealth looks like.

But many wealthy Americans do not view themselves that way. Maybe they think they have just enough or they are not satisfied with the amount of money they have in savings. Brad Tuttle (TIME) states, “Compared with the huge portion of the population that barely has any savings — about half of Americans don’t have an emergency fund that’d cover three months of expenses — it sure seems like the people in the survey are doing quite well financially.”

Our views on wealth are also varied when it comes to our location in the country. Certain states might have a very high bar for being considered wealthy or rich, such as New York or Massachusetts. Other states, like those in the Mid-West will probably have a lower expectation of what rich is compared to New England. Expenses in some areas almost require people to be wealthy so that they can afford to pay the bills.

Wealth is a continually varying thing and many people have differing views on what wealth looks like in our country and in our world. There are too many variables that we cannot truly pinpoint what wealthy looks like for each individual person

What is your view on wealth, and what do you consider wealth to look like? Comment below.

http://business.time.com/2013/07/24/what-it-means-to-be-wealthy-in-america-today/

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