Road to Riches!

by Krantcents · 44 comments

Post image for Road to Riches!

Road to Riches can be a bumpy ride!  Maybe you had a paper route, lemonade stand, sold Girl Scout cookies or some other money making activity as a kid.  If you had an early interest in making money, you probably are likely to start a business.   Although 50% of everyone has a net worth of less than $10,000, a select few are worth more than a million dollars!  How do you match up?

Road to Riches: Tracking the Journey of the Global Superwealthy

Conclusion:

There is something to learn from these statistics!  Two of the richest people in the world do not live in these areas at all!  Warren Buffett lives in Omaha , Nebraska and Bill Gates lives in the Seattle Washington area.  Wealth or superwealth is not limited to New York, Los Angeles or San Francisco.  It can be anywhere and it can be you!  The road to riches is anywhere!  What is stopping you from success?

Photo by  Flickr

 

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{ 38 comments }

Daisy @ Prairie Eco Thrifter June 11, 2013 at 6:05 am

I guess it doesn’t really surprise me that the most rich people live in larger cities. Larger cities tend to be expensive to live in (some neighborhoods, anyway). Interesting infographic!

Krantcents June 11, 2013 at 7:54 am

Thanks, there are at least 2 very rich people who do not live in these cities, Bill Gates (Seattle) and Warren Buffett (Omaha).

DC @ Young Adult Money June 11, 2013 at 6:08 am

Interesting infographic. I’m intrigued by New York City and multi-million dollar apartments. It’s crazy what you can get for your money in some less-desireable cities in the US compared to places like NYC. 2,000 square foot apartments going for $2-$7M…it’s crazy.

Krantcents June 11, 2013 at 7:56 am

Places like New York City and Los Angeles offer a lot of opportunity along with the very high cost of living. You can live near those cities and still participate in the opportunities.

Andrew June 12, 2013 at 9:12 am

Cool infographic! I live in the NYC area and yes it is expensive. I sometimes think about moving to a lower cost area but my family and friends are here. Just heard on the radio that average rent in Manhattan is $3300 and in Tribeca and Soho: $5300. Insane!

Krantcents June 12, 2013 at 10:54 am

If you really want to go insane calculate the cost per square foot! Los Angeles is not exactly a low cost are either,although lower than Manhattan.

Brian @ Luke1428 June 11, 2013 at 6:32 am

Love these type of graphs. And it is true that success can be found anywhere. In fact, I would suggest that growing wealth is easier if you don’t live in one of those rich areas. One has more to save and invest because the standard of living is not as high. Thanks for sharing!

Krantcents June 11, 2013 at 7:58 am

Large cities offer a lot of opportunities. I was able to invest in income property in Los Angeles in the late 1970s and did quite well.

Michelle June 11, 2013 at 7:30 am

Wow! Very interesting infographic. The prices for homes in those areas is CRAZY.

Krantcents June 11, 2013 at 8:01 am

Along with high home prices, there are usually high wages. The definition of an expensive home changes with location dramatically.

Kyle @ Debt Free Diaries June 11, 2013 at 9:16 am

Wow! Surprising stats! I had no idea that almost half of people have a net worth of less than $10,000. I guess it makes sense if you’re accounting for those living in third world countries. However, even if it’s just in developed areas (which I’ve heard could be true as well) then it just shows us how little financial education most people have. It also points out the potential for anyone who is willing to educate themselves!

Krantcents June 11, 2013 at 10:22 am

It goes beyond a financial education! It is common sense, no one can live on just Social Security unless you have savings.

Mike@WeOnlyDoThisOnce June 11, 2013 at 12:32 pm

Great way to show the individuality of success! Where do you find these amazing infographics?

Krantcents June 11, 2013 at 1:05 pm

Thanks, they contacted me. The website is on the bottom of the infographic.

Kathleen June 11, 2013 at 12:54 pm

holy cow $90M on a property? People who buy that must be wealthy beyond belief.

Krantcents June 11, 2013 at 1:08 pm

You’re right because the cost of maintaining a $90 million property has huge maintenance, fixed and operating costs.

Andy Hough June 11, 2013 at 1:19 pm

Those are some interesting statistics. I would have never guessed that having a net worth of $10,000 would put you in the top 50% worldwide.

Krantcents June 11, 2013 at 2:26 pm

True, but a 4% withdrawal rate probably could not support a Starbucks habit! Unfortunately, you need more if you want to actually retire.

KC @ genxfinance June 11, 2013 at 4:28 pm

They are rich because they do not work hard but work smart…

Krantcents June 11, 2013 at 5:24 pm

I wouldn’t presume they do not work hard, but it doesn’t matter! They have staff to do the mundane things non of us want or have to do. It is good to be the king or boss,, you get to do the fun things!

thepotatohead June 11, 2013 at 10:32 pm

I’m actually surprised Washington DC and the DC metro area didn’t make the list. I thought they were top 3 most expensive places in the USA. Looks like im somewhere between a marmut and a humming bird…need to work on my elephant status.

Krantcents June 12, 2013 at 7:24 am

I agree, but it may not make it to the world’s most expensive neighborhoods!

The College Investor June 12, 2013 at 9:32 am

Wow, really surprised to see nearby my house in La Jolla on the list! I’d love to live out there – it’s my dream!

Krantcents June 12, 2013 at 10:55 am

I love La Jolla too. I stayed near the cove for the weekend years ago.

Ryan @ RLD Investments June 12, 2013 at 10:53 am

It’s crazy when you see just how little $1 million can buy you in some areas. I would have thought Chicago would have made the list. It should in just U.S. listing, but I guess worldwide it doesn’t quite make it. I wonder what the correlation is between expensive cost of living…and traffic, one thing they have in common is that I could do without either.

Krantcents June 12, 2013 at 10:58 am

Although New York city is crowded and traffic is ridiculous, you can walk or take the subway. In Los Angeles, public transportation is far less convenient and traffic is miserable.

Pauline June 12, 2013 at 11:04 am

$1M for 32 sqft in Paris? not sure that is correct, the rate is about $15,000 for 1 sqm that is 10sqft. I find it interesting that there is more super wealth in Mexico City than in Washington DC.

Krantcents June 12, 2013 at 11:17 am

I think most people think Mexico is a poor country, but apparently there is some wealth centered in Mexico City. My roommate in high school was from Mexico City and his father was the Mexican distributor for Ford.

Average Joe June 12, 2013 at 2:21 pm

This might be the best infographic I’m come across (well, the one I like the most). I’m fascinated by great places to live and what they cost. For what it’s worth, I’d live in Paris over London, any day….which means I’ll get a deal! Ha!

Krantcents June 12, 2013 at 2:51 pm

Paris has more sunshine, that means it wins just on that. Although I love Paris, I like Amsterdam too. Since it is not listed, I could be the first!

Anton Ivanov June 12, 2013 at 4:37 pm

I agree with your conclusion – rich people don’t necessarily have to “flash” their wealth in the face of others. A modest lifestyle can mean even more money in the bank for your retirement.

Krantcents June 12, 2013 at 5:25 pm

Thanks, this may be anecdotal, but the rich people I have known seem ordinary compared to the flashiness of Hollywood.

Michael @ The Student Loan Sherpa June 12, 2013 at 5:42 pm

I really enjoyed the graphics… its a very interesting way to visualize such wealth.

Krantcents June 12, 2013 at 5:56 pm

Thanks, a graphic or picture can be more meaningful than a1,000 words!

Untemplater June 12, 2013 at 11:13 pm

I like the stats on the cities. Not too much of a surprise to me to see SF at the top of those lists.

Krantcents June 13, 2013 at 8:03 am

For a smaller city, San Francisco ranks very high in many ways.

Jim June 17, 2013 at 8:02 pm

Interesting infographic, it is crazy what some people will pay for these residences, and its even crazier to think that often times, these are just one of their properties.

Krantcents June 18, 2013 at 7:44 am

I think it is all relative! If you were earning $10 million a year, you probably would think differently. I know I would.

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