How to Solve the Problem?
The Rich Get Richer, The Poor Get Poorer
There are 3 Reasons why this statement is flawed
First, this is the link to my youtube video on the same topic
https://www.youtube.com/watch?v=EMmhVBa2SZU
Let us look at the data
#1 80% of millioniares are self-made
(Source: Book Millionaires Next Door)
#2 67% of billioniares are self-made
(Source: Forbes Magazine)
#3 The annual turnover rate of self-made billionaires is 16%
(Source: My own research based on Forbes Magazine data)
So there is a very high level of social mobility
The Majority of the rich were poor or middle class. They moved up quickly the social ladder and ended up rich
Why do some quickly move up the social ladder while most don't?
The Rich have good habits. E.g. rich people work long hours every day. Poor people watch a lot of TV, up to 7 hours a day. (I don't mean to insult anyone here, just showing the stats)
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