6 common beliefs about the rich that are not true

6 common beliefs about the rich that are not true

Categories: Economy | Lifestyle | People | Society | World

There are many negative stereotypes about the rich: it is widely believed that they do not deserve their wealth, avoid taxes, and are greedy. However, studies show that the rich are not as evil or privileged as you might think: a significant percentage of them went to public schools or dropped out of college, they are no more likely to avoid taxes than most of us, and many of them are first-time millionaires. generations that did not inherit their money from their parents.

We collected some common opinions about the rich and tried to find counter-evidence for them. Read the article to the end to change your mind about this 1% of our society.

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6 common beliefs about the rich that are not true

1. If you are from a rich family, you will be rich.

Although "rich kids" have more opportunities in life, they may lose their parents' wealth. According to consultants Williams Group, 70% of wealthy families lost their wealth in the second generation.

6 common beliefs about the rich that are not true

2. All rich people have inherited their money.

According to Forbes 20 Years Report, according to a 2016 report by the Peterson Institute for International Economics, the number of people on this list in 2014 was 70% of the number of billions. Among them is Bill Gates, who does not receive all of his billions of dollars from Microsoft, Warren Buffett, and Larry Ellison. However, this trend was more applicable to the average American billionaire, since more than half of European billionaires received their wealth as an inheritance.

6 common beliefs about the rich that are not true

3. Rich people work hard.

According to data compiled by Rich Habits author Thomas S. Corley, the rich work much more: 86% of the rich work 50 hours or more. weekly, while 57% of the poor worked less than 50 hours a week.

6 common beliefs about the rich that are not true

4. The rich will not go bankrupt.

Donald Trump has filed for bankruptcy four times. According to financial experts, the main difference between the poor and the rich in this case lies in the application of the bankruptcy exit procedure. The wealthy usually have a founding consultant with a tough financial plan.

6 common beliefs about the rich that are not true

5. All rich people graduated from the best universities.

According to a university study of global elites, most of the wealthy went to college, and a large proportion of those colleges were elite. The elite school, however, is the most important only in the United States, and there are rich people who never graduated from college (Bill Gates is a famous example). A good education is important, but it's not the only factor that determines your wealth.

6 common beliefs about the rich that are not true

6. Millionaires migrate to avoid high taxes.

Since tax rules vary from country to country, the relocation of millionaires will not come as a surprise. However, a recent study shows that millionaires tend to have lower migration rates than the rest of the population. While they take tax rates into account when deciding to move, very few of them are willing to take advantage of tax credits.

Keywords: Common beliefs | Beliefs | Rich people | Lifestyle | Money | Economy

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