Billionaires and the impoverished have one thing in common – momentum. Once you achieve high levels of wealth or debt, it's very easy for either one to continue to grow.
A recent report by the Institute for Policy Studies highlights this point. The study found that three billionaires – Jeff Bezos, Warren Buffett, and Bill Gates – hold more wealth than the wealth of the lower 50% of the U.S. population combined. The wealth of the top 25 billionaires equals that of the lower 56% of the population, and the wealth of the combined Forbes 400 billionaires list exceeds that of the bottom 64% of the population.
The other end of the economic pool may not be deep, but it is wide. Approximately one in five (19%) of Americans have zero or negative net worth – meaning that they have no safety net to handle financial setbacks and are at high risks for falling deeper into debt.
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from MoneyTips https://www.moneytips.com/1-in-5-americans-has-no-net-worth-or-less/527
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