Everyone meant to be rich?
Can everyone be wealthy and achieve financial freedom? We all play a part in the world and its ecosystem, working, studying, having kids, etc. Whether we want or not, we all play a role in society. From all of playing a role in society, only several people become rich and achieve financial freedom.
“According to the Credit Suisse Global Wealth Report, the world’s richest 1 percent, those with more than $1 million, own 44 percent of the world’s wealth. Their data also shows that adults with less than $10,000 in wealth make up 56.6 percent of the world’s population but hold less than 2 percent of global wealth. Individuals owning over $100,000 in assets make up less than 11 percent of the global population but own 82.8 percent of global wealth. Credit Suisse defines “wealth” as the value of a household’s financial assets plus real assets (principally housing), minus their debts.”
The rich and the super-rich are very few. How have all these people become wealthy? Some have Inheriting wealth, investing, or successful business ideas. From these three options, it's less likely to inherit a large amount of wealth for the common folk, and creating a business or successful startup does not happen as often as we think. I believe the path is through investment, and not only one path of investments but having a diverse investment portfolio.
So why isn't everyone investing? Well, most don't even understand money or how banks work? I believe these are things we should all be taught in school, money, investments, basically being smart with our finances. There is a lack of preparation in school to face the economic system. Sure some have been taught by their family; some studied economics and others investigated themselves, but what about the large group of people that just went on in life working and living paycheck after paycheck. Why is this important? Cliché or not, I believe that knowledge is key, whether it's having a good education or being able to access the information it is essential. This key element will be decisive when it comes to opportunities in life unless you inherit wealth, that’s a whole different story.
But why is this important? Cliché or not, I believe that knowledge is key, whether it’s having a good education or being able to access information. This key element will be decisive when it comes to opportunities in life unless you inherit wealth, that's a whole different story.
Have you ever felt that if you knew certain information, you would have done things differently? Missing out because of a lack of information can be applied to different aspects of life. How many would have loved to know about bitcoin in 2009, for many bitcoin was a way to become rich, especially those who invested very early? It can be discouraging for many, and the best way to face it is to learn from mistakes, absorb as much knowledge as you can, and try not to live in F.O.M.O.
Invest! Invest! Invest in whatever you find suites you best traditional markets, crypto, or both. We can't rely on established information from educational institutions. Search for information on different platforms because information won't be handed to you, at the end of the day it's up to every individual to strive for a better future. I do believe it's important to acknowledge that being rich does not mean the same for everyone sure numbers may be the way to look at it. Still, every individual has their wants and needs. Some want less others want a crazy jet-set life and that everyone's mindset, figure out your plan, not someone else's.
By: Carolina Pérez