How To Change Your Financial Future!
Do you know where you Stand Financially?
At times, when we are working to make money, but not sure of where we stand financially, its difficult to know, if we are making progress or not. That is why I have decided to share with you today The SEVEN (7) different levels of household income, with the hopes that it can guide you know how good your doing, or how badly you need a change.
There has ALWAYS been a misconception about what "RICH" is.
The information below will help you to get a more realistic perspective.
As you read through the different levels, be sure to identify where
YOU are at now, and strive to enter the next level UP!
Level 1 - Poverty: (Under $25,000 per year):
- You are flat broke, and probably get a large amount of aid through
the government (reduced school lunches, Earned Income Credit,
Housing Assistance, etc.). You may or may not have a job...If you do,
it's probably in some type of "service" industry (which usually pays
very low wages).
Level 2: - Working Class: ($25,000 to $50,000 per year):
- You struggle. Period. You have a job, but you have a hard time
making ends meet.
Level 3: - Middle: ($50,000 to $100,000/year):
- You are reasonably comfortable, but will still need to budget and spend
wisely. This household income level can also struggle depending on how
many children are in the house.
Level 4: Upper Middle: ($100,000 to $150,000/year):
- You are officially comfortable. You are in the top 12% of households in
the USA. You probably live in a decent home, have a couple of decent
cars, and may even take one or two decent vacations per year. Nothing
extravagant here, but nice and comfortable.
Level 5: Well Off: ($150,000 to 200,000/year):
- You are in the top 4.2% of ALL households in the USA. You want for
nothing. You have the financial resources to acquire ALL of the comforts
in life: Nice home, nice cars, etc. You can now take two or three nice
vacations every year. You are doing VERY well...Let's hope you are
saving a big chunk of that income, too!
Level 6: Rich: ($200,000 to $500,000/year):
- You are officially RICH now. Congratulations. It would take severe
mismanagement of your money to not have a life free of financial worry.
Level 7: WEALTHY: (Above $500,000/year):
- ONLY 1/10 of 1% of Americans make this amount of money per year.
Even after a 40% tax rate, this would still leave you $25,000 per MONTH
to live on. You're WEALTHY! You can enjoy life like very few can.
Which level/class do YOU fall in? There is an 88% chance that YOU fall in
level's 1, 2, or 3. This is purely statistical probability, as that's where 88% of ALL Americans fall.
Wish you much success in your business.
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