How rich are you?

aut0sh0cker · 01-05-2011, 10:34 PM

Quote:

Originally Posted by Daemonblitz

According to this, half the people in the world make under $850 USD... a year ...

Their equation is WRONG! Median worldwide salary is $1,700, the average, though, is $7,000. They just want you to donate.

Source here. (Incomes from 2007)

Chewy734 · 01-05-2011, 10:48 PM

^ good find aut0sh0cker. They do seem to quote $5000 as the average they used from another source. And their median is $850, which is also low compared to what you found.

JayKay335i · 01-05-2011, 10:49 PM

fucken thieves! I am not donating now because of their lies.

BTM · 01-05-2011, 10:51 PM

Just saved 15% on my car insurance

scottwww · 01-05-2011, 11:10 PM

Quote:

Originally Posted by aut0sh0cker

Their equation is WRONG! Median worldwide salary is $1,700, the average, though, is $7,000. They just want you to donate.

Source here. (Incomes from 2007)

Not fair. It depends on what you want to see in the statistics. Here is a hypothetical world. What is the average income, what is the median income by country, and what is the median income by population?

Once you factor in the numbers of the population in the country that are in the wealthiest quartile, or whatever it is you are examining, and doing this for each country, the numbers would become even more lopsided. Each statistic can be true and valid, but you need to know what you are sampling.

JayKay335i · 01-05-2011, 11:17 PM

Quote:

Originally Posted by scottwww

Not fair. It depends on what you want to see in the statistics. Here is a hypothetical world. What is the average income, what is the median income by country, and what is the median income by population?

Once you factor in the numbers of the population in the country that are in the wealthiest quartile, or whatever it is you are examining, and doing this for each country, the numbers would become even more lopsided. Each statistic can be true and valid, but you need to know what you are sampling.

I believe they are sampling bullshit

BTM · 01-05-2011, 11:20 PM

Quote:

Originally Posted by scottwww

Not fair. It depends on what you want to see in the statistics. Here is a hypothetical world. What is the average income, what is the median income by country, and what is the median income by population?

Once you factor in the numbers of the population in the country that are in the wealthiest quartile, or whatever it is you are examining, and doing this for each country, the numbers would become even more lopsided. Each statistic can be true and valid, but you need to know what you are sampling.

Not only this, but wealth is most accurately reported in terms of chain weighted GDP per capita...not in terms of income standardized for a BPD or USD...when comparing wealth on a global scale, individual income becomes less insignificant, considering some of the poorest people in the US are among the richest in the world from an aggregate income standard...

scottwww · 01-05-2011, 11:31 PM

There may also be a lot of things that cannot be calculated with accuracy and are just ignored. One of those things would be trade that doesn't involve currency. Maybe a factor could be sweat equity. Maybe a factor that is not in the statistics of some of these sources is unearned income like capital gains.

E90jonno · 01-06-2011, 04:37 AM

Im richer than bill gates :S

KingOfJericho · 01-06-2011, 08:20 AM

0.23% at 29 and I think this measurement is inaccurate. You get the same value for everything above 200,000.

scottwww · 01-06-2011, 08:34 AM

If you really wanted to try and quantify the wealth of people, you should consider their lifetime earnings, capital gains, inheritance, government provided services, use of infrastructure, under the table earnings, winnings, gifts received... and the list could go on.

I would also think it valuable to look at total income versus what it costs for subsistance. Then you would also want to consider what is subsistance? In the wealthiest nations, subsistance is very different from subsistance in the poorest.

I have been to very few of these places, so I can't speak from experiece, but I think we just don't know how good we have it. We are the brazen wealthy.

bolinp78 · 01-06-2011, 09:04 AM

What a stupid way to calculate how 'rich' someone is.

e46e92love · 01-06-2011, 10:45 AM

Quote:

Originally Posted by CollinsE90

Im hood rich

Cheers,
e46e92

Maestro · 01-06-2011, 11:03 AM

This should take in to consideration more than your pay, like net worth, since the problem in the US is most people net worth is negative, they owe more than they make.

Turbo tax each year shows you how you rank in the US against other people's tax return fillings so I know in the US I am not as high up as this one says for the world.

Georgeair · 01-06-2011, 11:47 AM

$15,000 puts me in the top 12%. Great survey......

NYCGarbagePrince · 01-06-2011, 11:57 AM

i love organic apples... much more than fruit trees in Honduras. How the hell am I supposed to eat fruit from a tree all the way in Honduras?

texasmojo · 01-06-2011, 01:03 PM

0.91 for me.

Feyd · 01-06-2011, 03:55 PM

Quote:

Originally Posted by NYCGarbagePrince

i love organic apples... much more than fruit trees in Honduras. How the hell am I supposed to eat fruit from a tree all the way in Honduras?

LOL

double_j · 01-06-2011, 04:39 PM

It's easy to be rich when you compare yourself to someone making 50 cents a day.

JayKay335i · 01-06-2011, 05:44 PM

I think I'm going to go donate to a place that fixes cleft palates. I would also like to blame world poverty on that website.

Saintor · 01-06-2011, 09:39 PM

Quote:

Originally Posted by bolinp78

What a stupid way to calculate how 'rich' someone is.

x2

The real meaningful figure is Net Worth, which usually increases with age.

01-05-2011, 10:48 PM	#24
Chewy734 Major General 499 Rep 6,798 Posts Drives: 2006 BMW 330i ZPP, ZSP Join Date: Dec 2008 Location: LA, CA iTrader: (15)	^ good find aut0sh0cker. They do seem to quote $5000 as the average they used from another source. And their median is $850, which is also low compared to what you found. __________________ Currently for sale: [19" Linea Corse LC818 wheel], [19" Fallen FK452 tire]
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01-05-2011, 10:49 PM	#25
JayKay335i Banned 198 Rep 5,046 Posts Drives: ///M323 DCT Join Date: Apr 2009 Location: North Dakota; its best DUHHHHHH iTrader: (1)	fucken thieves! I am not donating now because of their lies.
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01-05-2011, 10:51 PM	#26
BTM Banned 501 Rep 10,309 Posts Drives: A///MERICAN!!! Join Date: Mar 2010 Location: A///MERICA!!! iTrader: (11) Garage List 2007 BMW Z4 M Coupe [7.20]	Just saved 15% on my car insurance
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01-05-2011, 11:31 PM	#30
scottwww Brigadier General 555 Rep 4,760 Posts Drives: 07 BMW 335i, 15 Infiniti Q60S Join Date: Dec 2006 Location: USA iTrader: (0)	There may also be a lot of things that cannot be calculated with accuracy and are just ignored. One of those things would be trade that doesn't involve currency. Maybe a factor could be sweat equity. Maybe a factor that is not in the statistics of some of these sources is unearned income like capital gains.
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01-06-2011, 04:37 AM	#31
E90jonno STANCE YOUR RIDE! 32 Rep 422 Posts Drives: E90 Join Date: Nov 2010 Location: Bournemouth iTrader: (0)	Im richer than bill gates :S
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01-06-2011, 08:20 AM	#32
KingOfJericho Major General 2458 Rep 7,341 Posts Drives: Yes Join Date: Aug 2007 Location: CT iTrader: (1) Garage List 2010 135i Coupe [5.26]	0.23% at 29 and I think this measurement is inaccurate. You get the same value for everything above 200,000. __________________ The views and opinions expressed in this post are those of the author and do not necessarily reflect the official policy or position of Bimmerpost. 2018 Jeep Grand Cherokee High Altitude Hemi \| 2010 S4 Sold \| 2010 BMW 135i Retired \| 2006 Lotus Exige Sold
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01-06-2011, 08:34 AM	#33
scottwww Brigadier General 555 Rep 4,760 Posts Drives: 07 BMW 335i, 15 Infiniti Q60S Join Date: Dec 2006 Location: USA iTrader: (0)	If you really wanted to try and quantify the wealth of people, you should consider their lifetime earnings, capital gains, inheritance, government provided services, use of infrastructure, under the table earnings, winnings, gifts received... and the list could go on. I would also think it valuable to look at total income versus what it costs for subsistance. Then you would also want to consider what is subsistance? In the wealthiest nations, subsistance is very different from subsistance in the poorest. I have been to very few of these places, so I can't speak from experiece, but I think we just don't know how good we have it. We are the brazen wealthy.
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01-06-2011, 09:04 AM	#34
bolinp78 G35 convertee 69 Rep 1,008 Posts Drives: 2008 335i (AW) Join Date: May 2008 Location: . iTrader: (1)	What a stupid way to calculate how 'rich' someone is. __________________
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01-06-2011, 11:03 AM	#36
Maestro Major 1083 Rep 1,268 Posts Drives: 2007 335i Sedan, 2021 X3 Join Date: Nov 2006 Location: Philadelphia iTrader: (0)	This should take in to consideration more than your pay, like net worth, since the problem in the US is most people net worth is negative, they owe more than they make. Turbo tax each year shows you how you rank in the US against other people's tax return fillings so I know in the US I am not as high up as this one says for the world. Last edited by Maestro; 01-06-2011 at 12:48 PM..
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01-06-2011, 11:47 AM	#37
Georgeair Captain 80 Rep 803 Posts Drives: '08 Melbourne E92 M3 Join Date: Apr 2009 Location: Madison, MS iTrader: (2)	$15,000 puts me in the top 12%. Great survey...... __________________ Objects in mirror are slower than they appear.
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01-06-2011, 11:57 AM	#38
NYCGarbagePrince Major 258 Rep 1,435 Posts Drives: X6 50i Join Date: Aug 2007 Location: NYC iTrader: (0)	i love organic apples... much more than fruit trees in Honduras. How the hell am I supposed to eat fruit from a tree all the way in Honduras?
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01-06-2011, 01:03 PM	#39
texasmojo Second Lieutenant 13 Rep 223 Posts Drives: 2008 128i automatic Join Date: Aug 2010 Location: DFW Texas, USA iTrader: (0)	0.91 for me. __________________
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01-06-2011, 04:39 PM	#41
double_j First Lieutenant 86 Rep 331 Posts Drives: 2008 JB/B E90 M3 Join Date: Nov 2009 Location: Northeast USA iTrader: (0)	It's easy to be rich when you compare yourself to someone making 50 cents a day.
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01-06-2011, 05:44 PM	#42
JayKay335i Banned 198 Rep 5,046 Posts Drives: ///M323 DCT Join Date: Apr 2009 Location: North Dakota; its best DUHHHHHH iTrader: (1)	I think I'm going to go donate to a place that fixes cleft palates. I would also like to blame world poverty on that website.
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