Mass wealth refers to middle-class people with above-average income, forward-looking economic viewpoint, and above-average cash number. They are found in countries that have been primary economic powers for many years. The person’s income, economic viewpoint, and liquid assets are important factors. They differ from the upper middle class in mentality.
Mass wealth is an economic and social designation that refers to middle-class people of a variety of economic factors. In the most basic sense, these people must have an above-average income, a forward-looking economic viewpoint, and an above-average cash number. There is a great deal of overlap between the mass affluent and the upper middle class, but they differ in a number of important respects.
This wealthy group of people is commonly found in countries that have been the primary economic powers for many years, such as the United States and many of the Western European countries. Emerging economic powers, such as China, have generally not had enough time to generate social class. The class comes from generations of people who progressed economically, giving the wealthy class the proper understanding and point of view in matters of money.
The first important factor in belonging to the mass rich is income. This group has an above-average income for middle-class workers, and in the United States, this is often set at more than $75,000 United States Dollars (USD) a year. This is the basic criterion: a person’s actual income is less important than how they view that money.
The next important factor is the person’s point of view on economic issues. A person from the mass affluent group will constantly look ahead and consider ways her money could do more in the future. This generally means a variety of savings plans, both long-term and short-term, as well as retirement plans and stock portfolios. In most cases, the investor is more interested in long-term earnings than in short-term purchases. Those massively rich are also more likely to create an inheritance for his children.
The last important factor is the amount of liquid assets the person has. To fall into this category, the person needs a large amount of cash; in the US, it’s generally more than $100,000 USD. This money must be directly accessible, not tied to land or large objects like cars or houses. Also, the funds must be present after the debt; people with large debts are rarely mass affluent.
This group shares a lot of space with the upper middle class. The biggest difference is in the mentality of the group. An upper-class person may be in crushing debt or have little or no liquidity. Furthermore, the main factor for the upper middle class is income; in the case of the mass affluent, the person’s income has only a minor impact on the designation.
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