7 ms·
Income does not equal wealth and wealth is what this article is referring to. Wealth is a much better measurement for this kind of stuff, anyway. I'm living in
by tfourb 2y ago
Income does not equal wealth and wealth is what this article is referring to. Wealth is a much better measurement for this kind of stuff, anyway. I'm living in Germany as well and I'm probably in the top 10% in terms of household wealth, but easily in the bottom 50% in terms of household income. My wealth is much more impactful in terms of how I live my life, compared to my income. I'd describe myself as rich.
I'd expect that if you look at your wealth instead of your income, you probably come to a similar conclusion. If you are in the top 20% income bracket but do not feel rich, my guess is that you are probably in a lower wealth bracket (i.e. you have a house but still a huge mortgage on that house and not a lot of other assets, putting you somewhere in the top 40-50% wealth bracket.
If your wealth puts you in a similar bracket as your income (i.e. top 20%) and you still don't feel rich, this is more a case of your perception being out of whack. Top 20% in terms of wealth in a society like Germany by definition makes you a very rich person. But even our millionaire future chancellor described himself once as "middle class", so this is a common mistake to make ;-).