What Americans Consider Rich


 

wealthymatters.comMany Indians who haven’t been abroad,tend to multiply foreign salaries by the exchange rate, compare them with Indian ones and get suckered into various job offers.However,what is rich and what is wealthy is really relative.It depends on where in the world a person  comes from and exactly how well off or not so well off the person might be in his/her own society.

Here are some figures of what Americans in general consider Rich and Wealthy in America.They are sourced from the results of the Gallup Poll reported here: http://www.gallup.com/poll/151427/Americans-Set-Rich-Threshold-150-000-Annual-Income.aspx

The table below shows what percentage of Americans consider how much a year as being rich : Read more of this post

Are You Rich?


wealthymatters.comThere are many levels of riches and wealth.Wealth is good and wealthier is better but wealth without happiness and contentment is nothing great.If ever you feel less than fortunate materially,here is a list you can read to feel better immediately.

Got $2200? In this world, you’re wealthy. Assets (not cash) of $2200 per adult place a person in the top 50% of the world’s wealthiest.

If you made $1500 last year, you’re in the top 20% of the world’s income earners.

If you have sufficient food, decent clothes, live in a house or apartment, and have a reasonably reliable means of transportation, you are among the top 15% of the world ’s wealthy.

Have $61,000 in assets? You’re among the richest 10% of the adults in the world.

If you earn $25,000 or more annually, you are in the top 10% of the world’s income-earners. Read more of this post

Just How Good Is Your Income?


wealthymattersEver wondered how your income stacks up against others?Here are some figures to help you gauge just how well you might be doing.The per capita income in India is Rs.54,527 in 2010-2011,up from Rs.46,492 in the previous year.In fact the per capita income,which was Rs.18,450 in 2001-02, has been growing at an average annual growth rate of about 12.8% in the period 2001-02 to 2010-11.Have you been able to grow your income at the same or higher rate?

Just How Well Off Are You?


wealthymatters.comDo you know if you are a HNI? Or if your income makes you rich in India?

Envy and jealousy are pretty useless but there’s nothing like goal setting to get where you want to be wealth wise. It helps to know just where you stand.

According to the National Council for Applied Economic Research (NCAER), you are rich if your family’s  annual household income exceeds  Rs 17 lakh.There are 3 million rich households in India comprising some 16 million individuals.So 1.38% of Indians are rich in income terms.

However income doesn’t equal wealth just as being rich doesn’t mean being wealthy.For more on this distinction please refer to this older post here:  https://wealthymatters.com/2011/01/26/the-definition-of-income-and-wealth/ . Read more of this post

About Your CIBIL TransUnion Score


The CIBIL TransUnion Score is India’s first credit score for individuals.It is a three-digit numeric summary (ranging from 300 on the lower side to 900 at the higher side) of a consumer’s credit history, compiled from information received from lenders who are members of CIBIL. The model followed by CIBIL predicts the likelihood of an individual missing more than three payments on a credit line over the next 12 months. For the last few years banks have had exclusive access to this score.Now individuals too can access their CIR and credit score for Rs450.

To understand the impact of the CIBIL TransUnion Score on an individual’s loan application we need to take a look at the table below.It shows loans sanctioned by loan providers based on an individual’s CIBILTransUnion Score in 2008 and 2010.

wealthymatters.com Read more of this post

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