Truly wealthy debt-rid­den wannabe?

Finweek English Edition - - MONEY -

For many of us mere hard­work­ing folk, the pay cheque that (hope­fully) ar­rives at the end of ev­ery month is a sign that we are do­ing okay. We are able to pay the bills, and have some moolah left over for beers and week­ends at the beach house. When the num­ber on the pay cheque shoots up, as we ac­quire more se­nior po­si­tions, snazzy ti­tles and salaries to ref lect our pro­gres­sion, we mis­tak­enly think that we have ar­rived. We are now among ‘the wealthy’. HIGH FLY­ERS… OR NOT The sad re­al­ity is that high earn­ers are rarely truly wealthy peo­ple. An Aus­tralian sur­vey con­ducted in 2012 high­lighted that high in­come does not im­ply high net worth. An­a­lysts drew this con­clu­sion from find­ings which in­di­cated that only about 34% of house­holds that rank in the top 10% by gross house­hold in­come also rank in the top 10% by

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