Where are you on this scale?
1. In “The Three Levels of Wealth,” Ben Carlson tries to determine where most Americans might find themselves on Stewart Butterfield’s scale:
Level 1. I’m not stressed out about debt: People who no longer have to worry about their credit card debt or student loans.
Level 2. I don’t care what stuff costs in restaurants: How much you spend on a particular meal isn’t impacted by your finances.
Level 3. I don’t care what a vacation costs: People who don’t care how expensive the hotel is or which flight they go on.
Ben shares some interesting charts with his readers, including this one:
“According to the Federal Reserve, as of 2016, the average net worth of American families is just shy of $100,000. But the median wealth for the top 10% is over $1.6 million while the top 1% holds almost 40% of the country’s wealth.
The Fed also broke out the net worth figures by various percentiles:
A view of the generations
2. An oldie but goodie on Thematic Investing | Future Reality, by Bank of America:
People in the wild are different from people on paper
3. Real World Knowledge vs. Book Knowledge by Morgan Housel
Bonus if you’re still reading this post
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SAGE Serendipity: Are you one of those people who covet the same seat in the meeting room, or hate when someone’s in your favorite booth at a restaurant? Quartz.com’s Creature of Habit column, The psychology behind why you always want to sit in the same seat, will help explain your quest for personal territory.
