6 common beliefs about the rich that aren't true

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, research shows 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 tax-averse than most of us, and many are first-time millionaires. generations who did not inherit their money from their parents.

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

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6 common beliefs about the rich that aren't true

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

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

6 common beliefs about the rich that aren't true

2. All rich people inherited their money.

According to a 20-year Forbes report, according to a 2016 Peterson Institute for International Economics report, the number of people on this list in 2014 was 70% of the billion. 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, as more than half of European billionaires inherited their wealth.

6 common beliefs about the rich that aren't true

3. Wealthy people work hard.

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

6 common beliefs about the rich that aren't 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 is the application of the procedure for exiting bankruptcy. The rich usually have a founding advisor with a tight financial plan.

6 common beliefs about the rich that aren't 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 significant proportion of those colleges were elite. The elite school, however, is only the most important in the United States, and there are wealthy people who never graduated from college (Bill Gates is a famous example). A good education is important, but it is not the only factor that determines your wealth.

6 common beliefs about the rich that aren't true

6. Millionaires migrate to avoid high taxes.

Since tax rules vary from country to country, the resettlement of millionaires will not come as a surprise. However, recent research 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 breaks.

Keywords: Beliefs | People | Myths | Rich | World | Society | Parents | Family | Relationship | Money | Economy | Life | Lifestyle

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