We also learned that nearly half of all Americans already meet this criteria and that the average adult is only $1,301/year ($.63/hour at 40 hours/wk, for those counting) from doing the same. Lastly, we reviewed some troublesome statistics regarding the money situation of everyday Americans:
Up to 78% report living paycheck-to-paycheck
As many as 72% identify as being stressed by money
57% have less than $1,000 in savings
39% have no savings at all
The obvious question remains: why this stark discrepancy between high average income and extremely low levels of personal prosperity? Continue Reading
The Average American Income Is Only $1,301 From World’s Top 1%
Does your income rank in the top 1% of the entire world? Before you roll off your couch in a fit of cynical laughter, you should know that the answer to that question might just surprise you.
A recent study found that the level of annual income required for someone to be within the top 1% of earners in the world is a mere $32,400. This translates to an hourly wage of just $15.58, assuming a standard 40 hour workweek and full-time employment.
Yes, that’s right – make $15.58/hour or more on a full-time basis and you’re part of the global 1%, based on income.
Hello, reader! Welcome to The Financial Freedom Project, a blog dedicated to making financial freedom, financial independence, and early retirement attainable for everyday people with everyday incomes.
Driven to pursue financial freedom, but don’t have a six-figure income and don’t want to live like a hermit? That’s alright, I didn’t either! The good news is that there is another way.
This is Mr. Financial Freedom Project (Mr. FFP, for short), founder and author of this site. Below you’ll find a synopsis of my story, the blog, and what you can expect to find here moving forward. Continue Reading