Top 1.14%. So what?
Have you ever visited – Global Rich List?
Well today, I stumbled on this site and if you input your annual income it shows you where you are in-comparison to the rest of the world. Apparently, I am in the top 1.14% in the world. That’s great! Made me feel a lot better, but if you really think about it, the majority of anyone’s income within the U.S. should be within the top 5-10% compared to the rest of the world.
I was in a bit of a shock to find myself in the top 1.14%, but it sounds great doesn’t it? That’s what I thought… for a moment, I thought to myself, life’s isn’t that bad. I am in the top 1.14% of the world! I’m not so poor! It was as if I was injected with 100 cc’s of EUPHORIA. I was in heaven.
“Travie McCoy, eat your hear out! Who wants to be a billionaire when I’m in the top 1.14%!”
What a life… What a life…
Until, of course reality set in, and blind-sided me back into my below-average mundane everyday life. Which lead me to think, what my annual income really brought me. Of course I should be eternally grateful that I have a job, but in the end what is the point. How can I work 40 hours a week in a salaried position and not be able to purchase a home of my own. How can I be in the top 1.14% of the world and not be able to afford a home in the great U.S of A?
Shouldn’t the right to have a home and a place to live be a right and necessity which should be allowed to all inhabitants on the planet? It is absolutely, mind boggling and utterly ridiculous that I attended college and went to school for 17 years of my life only to find out that we all still fall short in the world.
When did housing become so expensive?
When did having shelter and a place to sleep become an option?
In the news, reporters interpret the housing market as if it’s an ongoing game of monopoly. But truth be told, life isn’t a board game and not having a place to sleep every night is a reality. The moment we stop talking about the housing market as a market, than we might be able to restore what little morality that’s left in man-kind.
This even goes beyond the purchase of a home. The cost of renting an apartment is dis-heartening as well. The average cost to rent a decent sized apartment is anywhere between $1,000-$1,500 which according to globalrichlist.com is 85% of the world’s annual income. What world do we live in where I am in the top 1.14% of the world’s richest people and I can barely afford an apartment that is equivalent to 85% of the world’s income.
Why do we have to work:
– 40 hours a week
– 160 hours a month
– 2080 hours a year
– 83,200 – 104,000 (roughly 40-50yrs) hours before retiring
To finally enjoy life at the fragile age of 65?
The median income in the US is $40,000 annually. If the average American worked for 40 years at $40,000 annually they would make roughly $1.6 million dollars in a life-time.
An Average household is about $400,000 in the Bay Area. About 1/3 of your life-time income will go to purchasing a home. Throw in a car, family, necessities (food, clothing, water etc.), children, and there goes the rest of your life-time earnings.
Better start saving, and maybe, just maybe you won’t die with massive debt.