wealth calculation
Here is a scary calculation.
According to the world bank 2003 figures, the bottom 10% of the world earn around $400 a year on average. That is around £200.
Our house is worth around £130,000 - that is the amount of secured debt that we can get. Which represents about 650 years of the yearly income of a person in the bottom 10%. Which is around 10 lifetimes. My life is worth 10 times of the poorest person.
Of that £130,000, we've paid off about £75,000 (more or less), which means we actually have capital worth 375 years or about 5.75 of the life income of the poorest people.
According to the world bank 2003 figures, the bottom 10% of the world earn around $400 a year on average. That is around £200.
Our house is worth around £130,000 - that is the amount of secured debt that we can get. Which represents about 650 years of the yearly income of a person in the bottom 10%. Which is around 10 lifetimes. My life is worth 10 times of the poorest person.
Of that £130,000, we've paid off about £75,000 (more or less), which means we actually have capital worth 375 years or about 5.75 of the life income of the poorest people.
Labels: wealth
posted by Joe at 6:22 AM
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