I agree is it overly simplistic, but even factoring in your list of factors, spending habits are very key. See my other remark up top about financial literacy.

I agree is it overly simplistic, but even factoring in your list of factors, spending habits are very key. See my other remark up top about financial literacy. The U.S. ranks 6th worldwide in wages, but 25th in wealth, since so many in the US live off of credit, and don't save as much as their Chinese counterparts for one example. Irrespective of populist banter, the top 0.1% pay about 40% of the tax revenue the Federal government collects. I think our tax system is more progressive than popular opinion makes it out to be. If you earn over $450,000 a year, you are in the top 1% by wage.