Thread by @AlexAndBooks_

Wealth isn’t a straight line, it’s a ladder.

At each level, how you earn, spend, and invest money changes dramatically.

Here are 10 key lessons from "The Wealth Ladder" by @dollarsanddata:

1) The 6 levels of wealth:

Level 1: Lower class ($0 - $10k)
Level 2: Working class ($10k - $100k)
Level 3: Middle class ($100k - $1M)
Level 4: Upper middle class ($1M - $10M)
Level 5: Upper class ($10M - $100M)
Level 6: The superrich ($100M+)

2) The percentage of adults in each level worldwide:

Level 1: 39.5%
Level 2: 43%
Level 3: 16%
Level 4: 1.4%
Level 5: 0.09%
Level 6: 0.0003%

3) The typical millionaire is 62 years old.

4) If you aren't poor and you aren't happy, more money won't do a thing.

5) Wealth does buy happiness but it has diminishing returns.

6) Seeing your friend most days or being married is worth an extra $100,000 per year.

7) Being in good physical health is worth an extra $400,000 a year in salary.

8) There's a big difference between being wealthy and feeling wealthy.

9) Every wealth level has a singular thing for you to focus on:

10) The great irony of getting wealthy is realizing that many of life's greatest pleasures are free.

You can read my full summary of "The Wealth Ladder" here:

alexandbooks.beehiiv.com/p/the-wealth-l…