Why You Will Never Be Rich

Why You Will Never Be Rich


Does being rich make you happy? That’s the billion-dollar question, but
most experts on the matter agree that having certain freedoms and securities that come
with having lots of money does indeed improve our feeling of well-being. Psychologist Daniel Kahneman and economist
Angus Deaton concluded that once you have an income of over $75,000 a year, you won’t
necessarily get happier with even more cash, because it’s the safety net and opportunities
afforded to people that really help maintain some level of happiness. A life of penury is often full of fears, set-backs,
drudgery, and having to see all the time all the things you can’t have. But then something called the Easterlin paradox
tells us while rich folks are happier than poor folks, rich countries are not necessarily
happier than poor countries. Today we’ll explore this, in this episode
of the Infographics Show, Why You Will Never Be Rich. Don’t forget to subscribe and click the
bell button so that you can be part of our Notification Squad. So, what are your chances of becoming rich? Before we answer that, we need to know how
much money you need to be considered rich. This is obviously relative to every country,
but one would think if you have a million dollars in your bank account, you can say
you are rich. However, it seems people don’t always think
this way. In 2013, a report by investment bank UBS stated
that only 28 percent of people with $1-$5 million thought they were rich. Even more surprising was that only three out
of five people with more than $5 million thought they were rich. The report focused on assets, not cash in
hand. Still, who would have thought with over five
million bucks in assets, many people wouldn’t consider themselves rich. It would be quite confusing to talk about
relative wealth in every country, so let’s stick with the United States. There we have the mega-rich, the 563 billionaires,
but we also have a lot of just plain old rich. As for millionaires in the country, a World
Health report told us there were 4.8 million of them in 2016. Many of those may not consider themselves
rich, but many of us would say they are doing pretty well. The U.S. Census Bureau states that median
net worth of a 35-year-old in the USA is about $35,000. It goes up with age, and from 55-64 it’s
almost $150,000. It peaks at 65-69 at just under $195,000. We couldn’t say these people are rich. Even the top 10 percent might not be considered
rich. The Internal Revenue Service reports that
the average household income for the top 10 percent of U.S. earners is $295,845. For the top five percent, it’s $350,870. The average for the top one percent is well
over one million dollars. For argument’s sake, let us say that if
you are in that top five percent you are rich, never mind what you think of yourself. How hard is it to get into that bracket? It’s actually quite hard, given that money
often begets money, and unfortunately breaking out of poverty is no easy task. There is an old saying that goes, “The rich
get richer and the poor get poorer.” But what does this mean? For starters, most people who earn the big
money have a university education. As you’ll know from our other money-focused
shows, many tech entrepreneurs drop out of university, but most of them grew up in affluent
families where they were afforded all kinds of comforts and opportunities poor people
are not. In Malcolm Gladwell’s book, “Outliers”,
he points out that there are no self-made millionaires. Most people were helped with luck on the way,
and often this luck meant supportive parents, good schooling, and having fostered in them
that they can do anything they want. You’ll also know from watching our other
shows that there is a direct affect on how much money you have, to how far you go in
education. Statistics differ depending on what you read,
but it’s thought that around 30 percent of Americans over the age of 25 have a bachelor’s
or master’s degree. The Atlantic tells us that more than 70 percent
of those that went to the top universities came from America’s wealthiest families. These guys will no doubt have no problems
paying off their student debt, if they had student debt. In 2017, Forbes reported that the Class of
2016 had $37,172 in student loan debt. If you are not from a wealthy family, then
you are already struggling just when you get going. So, how do you get rich when you come from
meagre beginnings, given that you might have had only a basic education or that your education
became a financial albatross around your head. Still, back in 2012, a Gallup poll revealed
that 28% of Americans expected to get rich at a time in their lives. That’s positivity for you, but this is a
country full of natural born American dreamers. Many will be disappointed, especially if we
realize that about 60 percent of American wealth is inherited. That means that those hoping to get into the
five percent already have to contend with those already in the five percent. It seems they are not making much headway
either. An article in Evonomics tells us that “The
rich are getting richer, faster.” At the same time, the poor and middle classes
are not going anywhere fast. “Because wealth begets more wealth, it’s
a self-perpetuating picture,” said the economics website. Wealthy households usually hang on to their
wealth, whereas less wealthy households face all manner of dilemmas. In 2017, CNBC wrote that the average American
family owes $8,377, and that means you’ll be paying off interest on that. Rich folks buy their goods outright for the
most part, and so as a poor person you are continually being faced with borrowing fees. When you are struggling to pay for things
outright, you are prey not only to lenders but to the system. Did any of you watch John Oliver on Last Week
Tonight when he showed how many Americans actually end up in jail for municipal violations. That’s right, when you can’t pay a parking
ticket, things can just pile up. As Time magazine pointed out, when you are
wealthy, a violation is no big deal, but when you are poor “tickets can wreck your life.” For not paying immediately, additional fees
arrive, and then if you can’t pay the fine you, could be locked up. If you ever need a lawyer and you are poor,
you won’t be able to hire yourself someone totally dedicated to you, which is one reason
why rich people can get away with things. We could say the same about medical treatment. If you live hand to mouth and can’t afford
insurance, but need medical attention, that bill could ruin your life. Being sick could take all the money you’d
saved to send your child to college. Being sick, physically or mentally, could
be on the cards given you might not be able to afford nutritious, naturally grown foods
for every meal. Poor and sick in America is an endless money
pit. One health journal stated that in the USA,
38.2 percent of poor people are in “fair or poor” health, compared to 12.3 percent
of the affluent. One millennial writing about how “screwed”
his generation is, wrote in an article featured on Highline, “My rent consumes nearly half
my income, I haven’t had a steady job since Pluto was a planet and my savings are dwindling
faster than the ice caps the baby boomers melted.” This is a generation that is growing up when
all the media is telling them the robots are coming and automation will take all the jobs. If you’re rich, it’s likely you’ll find
those niche jobs, or your family will own the company that employs the robots. This is a generation that has around 30 percent
more student debt than its parents did, and those are the ones fortunate enough to have
gone to college. People born in this generation are also half
as likely as their parents ever to own a house. The American Dream may just be a myth, as
money doesn’t always trickle down and swimming upstream isn’t as easy as people may have
once thought. Researchers at the University of Illinois
found in 2015 that, “The United States is faced with record levels of income inequality
and one of the lowest rates of actual social mobility among industrial nations.” It seems for the most part you are what you
are born to be, and that means the rich stay rich and most of you will not be part of that
club. Or, do you disagree? Please let us know in the comments why you
will be different and why you will definitely be rich! Also, be sure to check out our other video
called 10 Surprisingly High Paying Jobs! Thanks for watching, and, as always, don’t
forget to like, share, and subscribe. See you next time!

100 Comments

  1. The Infographics Show says:

    Some of you will make it! But, for most, it will be much harder… Don't look at this and become the statistic! Take this and understand that you have to fight for it! You can do it! Beat the odds!

  2. John Darwin Roxas says:

    By far, this is the saddest episode you've got. I'm kinda feeling weak of all those realizations

  3. Badass Entreprise says:

    Well that was motivating

  4. Радунхакеду а фамилии нету says:

    So i am not gonna make it????

  5. Banana Gaming says:

    And then Jeff bezos watches the video

  6. Austin Statin says:

    Because I’m lazy?

  7. Rebecca Philantrope says:

    How about marrying the rich?

  8. Sean Lann says:

    And even if you somehow make it, becoming a multi-millionaire
    The rich may still look down on you, calling you "New Money"

  9. romeynsc says:

    Everyone is rich but everyone is dating rich is about money its not rich is rich in your heart

  10. Navy seals rock says:

    I'm wealthy ?

  11. irainkoolaid2 says:

    oh ill be rich for sure. already own 5 investment homes at 25 paid for by myself and my frugality 😀

  12. Mandirigma Debonair says:

    Soon, Democratic socialism will be the universal government of the one world order.

  13. Irwan Chandra says:

    Its easier for american to be rich, just working there ,saving money,learn one of the main SEA languange (thai,malayu,bahasa) and with $ 100K they can come to developing country,buy home,married with local qnd start new bussines…

  14. Andrew Hawkins says:

    totally disagree. We, like our government, have a spending problem. Without parents, or finding mentors to show us how to handle money, most will throw most if not all their extra cash towards things like cars, over their budget housing, or straight dumb things like pop figures or stuffed animals. Amazon and Walmart may have made it worse. That's the reason the rich stay rich and the poor stay poor. You are like your parents: as much as everyone tries not to be.

  15. Siddharth Dansena says:

    I will be rich one day and I am pretty sure about that

  16. ClarksonsinUSA says:

    How about smart people have smart children,Usually!! 🙂

  17. Jordan Westfield says:

    I won 15 million in the Florida state lottery so happy to be rich

  18. Haze Plays says:

    tell that to amazon

  19. BatgirltheRobin says:

    Whether you think you can or you think you can’t, you’re right.

  20. Assh says:

    Wrong get a trade, e.g building, plumbing, electrician, don't go uni, and sell drugs, but pay taxes, boom problem solved

  21. GaMeR-__-DrEwW says:

    Well that title is depressing

  22. Ryan Buser says:

    Tell that to elon musk

  23. Jessica Robinson says:

    The moment you realize hope and change don't pay the rent

  24. Anne Green says:

    We all can we rich as long as we have our hearts, spirits and our parents guidence we can take over our destiny

  25. Anne Green says:

    You can't buy happyness but happiness can buy you

  26. Rain Flop says:

    Yes being rich makes you happy, imagine buying anything you want, that would be the best life compared to being poor asl.

    Becoming rich is hard
    Being poor is hard
    Choose which one you want

  27. FirstFlight says:

    Such a motivational video.

  28. Vishal Vashisth says:

    Take a snapshot of this
    After 2 years at age of 20 I will return with $10M with me.
    No matter if I belong to lower-middle class.

  29. gig star says:

    Me: I want to be rich
    Infographics show: You'll never be rich
    Me: Cries silently

  30. Scxrpix says:

    this video is a confidence boost to prove it wrong

  31. ALBER PAJARES says:

    Bang your body,.. spiritual heal,..

  32. Dripness % says:

    My childhood

  33. TheGreatPurpleBlade says:

    thanks for to motivation

  34. ulysses contreras says:

    Jeff became rich bill gates became rich Patrick bet David became rich

  35. ALBER PAJARES says:

    ¡ would always help America by the way, if there’s something ¡ can’t hold is the love to the money.,.

  36. Deyaboo u says:

    The ones who are going to get rich aren't wasting precious time on YouTube, that's why anyone watching this video is never going to be rich.

  37. MissAmazanda says:

    I for one do not want to get rich, I don't understand why money is all some people think about, you have to remember the love of money is the root of all evil. That alone is reason enough for me NOT to want a lot of money.

  38. Karppine Eero says:

    I accept your challenge.

  39. G.E. Holman says:

    Thanks for the criticism. I will use this as motivation later in life

  40. lord cobi says:

    You will fail die broke unsatisfied with life and full of regret death is ur only option to happiness

  41. Sailakshya Sikdar says:

    Disagree

  42. kvnmcinturff1 says:

    Cheap RV Living: Free land out west. ?

  43. Mr man says:

    i need to steal.

  44. Andrew Youster says:

    Challenge accepted!

  45. Swift TV says:

    So your telling me a have a chance!

  46. Conner Lawson says:

    I’d rather be poor but have things in my life that bring and make me happy then to be rich and miserable I’m so glad to see a trend (might be a millennial thing) that is seeing that happiness over rides any amount of digital comma you see in your bank I’d rather have all my wants in life with just a few grand in the bank then to feel empty with thousands and thousands in the bank everyone’s perspective of “rich” is different I can be poor but still feel more “rich” then the next guy sitting on millions here’s the way I see it if you wake up and go to bed every day and every night with the pure feel of true happiness you’re the richest person in the world don’t get me wrong I’m not the type to think love makes the world go round cause it doesn’t money does do that but it’s what you do and have in your life that makes you rich I could have a mansion and someone could have a shack but still feel the same happiness don’t think a green piece of paper is all to life I see to many people in this world chase a Benjamin then I do see chase happiness if chasing a Benjamin makes you happy then to each his own to me that’s miserable but that’s my perspective
    Different strokes for different folks

  47. dolphin aqua says:

    My father has a networth of 3.8million dollars.

  48. Bhop Hooligan says:

    ill show you

  49. Roger Sanchez says:

    I was a teen parent 10 years ago I was suppose to live impoverished but I worked hard started a small trucking company that grew and now I consider myself upper middle class it’s possible don’t let anyone else determine what goes on in your bank account people said it wouldn’t work out now that I bought a house people tell me I’m dumb because house prices are going to crash soon but none of that matters to me

  50. Giovanni Herrera says:

    Ay bruh chill ?

  51. sunflower isyeallow says:

    Being poor Hurts

  52. Humboldt Oregonian says:

    What if you worked hard and saved around 50,000$; then, used that money to start a company in a poor yet stable developing country? The money you brought with you would have more buying power in the new surroundings. The people of this new land would be far less educated than you on average. Though, the idea of how the money should be invested would have to be in the mindset of long term working investment. The hard part I find on this topic is, how do you take a group of uneducated people with few necessities and used them to make a profit? The key to this is using a vertical monopoly in human resources. People are much like trees on a tree farm, as they are just resources to be used in a profitable means. The trees need to be provided for just like people; because, a small unhealthy tree will make less money than a large healthy one. The first step in the vertical monopoly of human resources is education. A strings of ether privet, community funded, or government funded institutions that are geared toward a curriculum that is based in trades of industry. The second step would be utilities. Water and Electricity are essential for building industry. Therefore starting a separate water and power company that would follow the education network would be essential. Step three would be consolidation. Making fewer and bigger power-plants and water distribution facilities would be essential for long term profits. So where on earth can such things be possible? Africa is a real wild west where such things can work if you can survive. My point is that anyone can become rich with proper hard work and exploitation of poorer people.

  53. Peace_123 says:

    If I was rich…I wouldn’t keep all for my self…I would go around giving people money…my biggest wish is to give my family money ? 1 million dollars as a thank you present for taking care of me…since I was such a burden to my family ?well there’s a secret “giving people makes you happy” I wish I had a lot to give but……right now my only hope is money since that seems like the biggest problem

  54. William Wilson says:

    Rich is relative. I’ve traveled the world enough to know even ‘poor’ people in America are rich.

    In America, you are as rich as you want to be. Opportunity still exists to accumulate wealth but you have to be willing to put in the effort. My experience has been Americans are too lazy and/or drug addled to get ahead in life.

  55. G-ARMY Ryals says:

    Okay??

  56. Bass & Trap says:

    Imagine bill gates stumbled upon this video.

  57. Haley Moore says:

    Just don't have kids.

  58. Ralph Simpsion says:

    I came from a poor background, I know the taste of the bottom. To any obstacle that may face me , please prepare for a loss.

  59. CuDi Doza says:

    I’ll brb

  60. ismael Ramirez says:

    Easy…become a pipeliner like me lol

  61. Budgetgaming - says:

    I will be different because im not staying in the us when I am oldet

  62. Likhit Donthula says:

    You are the change you want to see

  63. Made Dollaz MD says:

    Being rich is a state of mind. Not a financial status

  64. DRAW WITH YASH says:

    It takes financial education and I am on that path

  65. Pr0 GengOo says:

    Ok, that was a wake up call
    I WILL reply to them spam e-mails promising me ton of gold for trade !

  66. Jay Meehan says:

    Great message! You'll never make anything of yourself, so give up now! (That way, there will be that many less people chasing after the same riches that I am….) Is this the LOSING attitude that they teach in schools today? No wonder socialism is so popular with the kids! WOW! What a great way to destroy a country!

  67. Ro han says:

    What if I win the lottery ?

  68. ItsJustSebastiàn says:

    But I’m already rich ?

  69. Angel dark6000 says:

    My parents are rich

  70. nurudin nuhefendic says:

    Sike I already am.

  71. Teun Ros says:

    i dont know if im gonna be rich but a copple of years ago i started to study pshycolegy when im done with school

  72. Conrad Smith says:

    If you are in a poor family and watching this, that means you care and just increased your chances. I do think there is inequality, and i do think it is getting worse. However, I think that if you are poor and in a constant effort to get out of it then that mindset will change your life. Yes 30% of people think they will be rich someday while only 5% of people grew up in wealth. Many of the wealthy kids who were spoiled will have to grow up eventually and if they don’t, bam they are poor. Success lies in your willingness to work AND study hard. There are scholarships, the government is constantly trying to help the poor. Just study and don’t let you unfortunate start and circumstances prevent you from making a large sum of money. Anyone can do it, but yes rich born hardworking kids have an advantage over poor born hardworking kids. It’s the sad truth.

  73. Emir Hasani says:

    I may be poor, but boy oh I can't wait to come back to this video after some years to tell you that you are wrong

  74. The devil says:

    Yes everyone give up so I can have a better chance of getting rich ?

  75. Parth Rachchh says:

    I'll comeback to this video in 2025 please if anyone reding remind me

  76. Assault X says:

    Get rich or die trying

  77. Ismael Traoré says:

    I am from Germany ??

  78. DRIFTY SKIDS says:

    i thought having money would somehow make me a better version of myself but turns out, it doesent. im still the same person i was before. but the lambo is nice tho

  79. Shashi Kumar says:

    From India
    Anyone wanna team up too become rich ? Or leave it

  80. Anthony Lennon says:

    And they say communism is bad ….. strange how Cuba has and Syria had the best education and healthcare in the world , what’s more strange it is free

  81. Callum Venter says:

    …☹?

  82. a random dude says:

    Very positive old narrator.

  83. wojtekpolska says:

    how to be rich eazy guide [WARNING REQUIRED BRAIN]:
    Step 1. Invent something usefull
    and thats really it

    ps. if you say that i need to write that u need to produce and sell this or sth, you are wrong. i dont have to write this. if someone cant think of this, its unlikely they will complete Step 1.

  84. Aidan Damron says:

    because i live in oklahoma and you could legit live and buy a home off a mcdonalds salary

  85. Léon Austen says:

    I’ll never give up

  86. L P says:

    This is true. Its similar to the netflix show "explained" watch the episode "the racial wealth gap"
    It explains how african americans will unfortunatly never catch up to white americans when it comes to wealth because of the inherited wealth and opportunity over many years.

  87. username unknown says:

    I don't think becoming rich is hard in America I think it's how you think outside the box. Too many like minded drones in this world take a chance and quit expecting hand outs…

  88. Fahad says:

    If the men before me could do it. Then so can I! I am eighteen now so hopefully I still have enough time to try!

  89. max says:

    rip to your generation, but im different

  90. Murat Taşkın says:

    My dad earned his first million in age of 32 he born very poor with 8 brothers

  91. IndustryOfMagic says:

    Sorry to be bitter but this trash video is about America.
    I think the creator of this video is a flat earther and America is the only continent.
    How do I know? When you start talking about health care being an issue, that exists only in America bruh.

  92. TIGERZY2K says:

    There is a famous Bengali quotation by a 19th century saint named Ramakrishna Paramhans which reads "money is mud….mud is money". Which means money has a tendency to be spent. Alas its very much true. Sadly this famous preaching of Guru Paramhans is misinterpreted as having too much money is bad. This is the reason why the middle class and poor people try to avoid investments in equity market and try to avoid the concept of filtering out hard earned money from passive income….. thereby succumbing to financial crisis or vicious poverty cycles quite often.

  93. zedrove orsphues says:

    i wont be rich but i will be wealthy

  94. Wazkey -_- says:

    Watch me

  95. Cristin Sunshine says:

    3:08 that isn't true… There are a lot of millionaires that didn't receive help from their parents..

  96. Mike says:

    I'm going to be rich becuase I'm going to stay single and not get married!

  97. NotKd GT says:

    It is not your fault you are born poor but it is your fault if you die poor

  98. sly fly says:

    the reason why we will never become rich is because we either had children young, or we are too afraid to take major risks, but what people dont realize is that people buy anything, look around your house, its full of junk, just make something that is semi useful and sell it.

  99. KingSlayer 27 says:

    Lucky for us Canadians, health care is free. Lol

  100. thelitepredator says:

    great video

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