Weekly Roundup, 29th November 2016

Weekly Roundup, 29th November 2016

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3 Responses

  1. Hi Mike,

    Thanks as always for the weekly round up – always interesting to read some of the things I had missed during the week.

    I find the wealth inequality one fascinating (I had missed that!) – I don’t think it had clocked in the back of my mind that so many of the first world would be in the bottom due to excessive debt – just shows how warped it is that we are so reliant on debt.
    What did surprise me was the band you needed to hit to get into the top 1% – thats going to be most people who manage to hit FI! I would have thought it would have been much much higher…. guess its time to aim for the top 0.1%! 🙂

    • Mike Rawson Mike Rawson says:

      Hi FiL,

      Thanks for dropping by.

      Inequality is always a tricky subject – you have to think about income vs net worth, country vs country, relative inequality vs absolute poverty. Things have generally been improving globally but getting worse in the richest countries, which is why you see both kinds of headline.

      Access to credit is a double edged sword, and millions of people get it wrong.

      You’re right that most people who become FI in the UK will be in the top 1%. I’ve no idea where the top 0.1% begins.


      • Hi Mike,

        Always a pleasure 🙂 It is indeed – and you are spot on with the relative point – living in say Thailand is a lot cheaper so you can live on far less, but it is also a very different life!

        And you are spot on it is double edged – no credit extension could hurt people who genuinely need it but sadly its been abused by various “modern” societies for demonstrating how wealthy they arent.

        I did have a hunt around on google to see what I could find on the wealth definitions, but from what I have found the top 0.1% in the UK is above £5 million, globally they referred to £20 million – either way its a bucket load of money! When you compare such a small increase from 1% to 0.1% its a huge difference!

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Weekly Roundup, 29th November 2016

by Mike Rawson time to read: 4 min
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