Many in America’s top 10% still feel ‘very poor’
From Yahoo Finance: 2025-06-28 05:05:00
A $175,000 annual income puts you in the top 10% of earners, but 25% of those in this bracket feel poor. Are Americans underestimating their wealth? Warren Buffett thinks so, comparing modern living standards to those of the past.
Young wealthy Americans plan to increase their alternative investments, with 45% owning or interested in gold. Investing in gold is seen as a hedge against inflation and economic uncertainty, with online platforms offering easy access to purchase gold and silver bars.
Social media can distort financial perceptions, leading to comparisons and unrealistic expectations. Reliable sources, not influencers, are key for investment information. Warren Buffett attributes his stock market knowledge to reading extensively, including the Moody’s Manual. Financial advisors can help clarify your financial position and future plans. Warren Buffett advises everyday investors to opt for S&P 500 index funds for long-term growth and diversification. This approach allows anyone, regardless of wealth, to benefit from investing in 500 of America’s largest companies. Apps even offer the option to invest in an S&P 500 ETF with spare change, making wealth-building more accessible.