The Guardian Newspaper of Great Britain reported on a study by the Institute for Policy Studies that the three richest persons in the U.S., Jeff Bezos, Bill Gates, and Warren Buffett, own more wealth than the least wealthy half of the entire U.S. population. Apparently they calculated that the ~$248,500,000,000. Of wealth owned by these three richest exceeds the total wealth of the least wealthy 160,000,000 people in the U.S. This also reveals that the average wealth of these 160,000,000 people is less than $1,500 each.
In a separate report by the Federal Reserve’s annual economic well-being of U.S. households, in 2016 it was revealed that ~44% of households surveyed said that they did not have $400 available to them to cover an emergency, and would have to either borrow or sell something to cover any such expense. This improved, down from 46% as reported in their 2015 report. This, after eight years of economic recovery in the U.S. is dismal as a situation for our overall population, and will continue to contribute to overall life insecurity and stress throughout the U.S. population.
Money wealth is not an end in and of itself, however it can translate into liberty, options, and some manor of security in our lives.
Where are you? Where do you intend to be? How much liberty and security do you want to have – forever? How about the people you care about?
We have this saying in the U.S. that there are three off limit topics to keep a family gathering civil: politics, religion, and money. Well, how has that part about not discussing money been working for most U.S. families? Is that how it works in your family and if so how has it really worked for your family?