The Truth About Wealth
The myth perpetuated by Forbes in my opinion, is that the American Dream is alive and well in 2016. In other words, no matter where you come from or what your life circumstances are, if you work hard, you can achieve your desires and join the ranks of the rich and powerful elite.
In my estimation, this is a nice, comforting myth, but it is far from being the truth! Only about 1/3 of the individuals on Forbes 400 list (the wealthiest billionaires in America) are truly self-made. Both TV’s Oprah Winfrey and Facebook’s Mark Zuckerberg fall into this category.
Approximately 95% of the population qualifies for this division. These are the people that start out from a poor to middle class background and basically have to make it completely on their own.
The other 5% of the population divides up something like this, they could be qualified as people who have grown up in an environment of considerable privilege and advantage.
22% of Forbes 400 list inherited up to at least 1 million dollars. When you consider the saying “The first million is the hardest” it is clear that this group starts out with a considerable advantage that most of us (95%) will never have.
11.5% of Forbes list inherited over 1 million and 7% inherited a massive 50 million or more! The category that really gets me is the 21.25% of Forbes 400 list that inherited enough money to actually be born onto the list! Essentially these lucky people, nearly ¼ of the list, were born billionaires! That’s nearly incomprehensible to me. Imagine having it that easy from the moment that you are born!
So, the real truth behind the American Dream is that if you are born into a life of wealth, advantage and privilege in the year 2016, you can go on to live a wonderful, fulfilled life and achieve great things! Of course, given all that…who couldn’t? Basically, when life hands you everything that you need to succeed, you probably will!
However, the reality the rest of us, the 95%, is that we will likely have to struggle for most of our lives in order to just break even. Nevertheless, if we are clever, focused, determined and lucky, then with hard work and perseverance, just maybe, we will be allowed to enter the ranks of the 21% of the Forbes 400 list, those rare, hardworking individuals who can truly say that they are a self-made success! It may not be easy, but it can be done!
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Our wish is for your continued success!
Sincerely, Nicholas J. Chase