Do You Consider Yourself Rich?
On a recent podcast episode, I interviewed Jeremy Stevenson. He would work for, or manage, family businesses.
These are not businesses like your local dry cleaner or a construction company owned by a family. Family Business is a term that applies to a business owned by the ultra-wealthy, like folks with a net worth of over $30 million.
So when I went to look up the term ultra-wealthy I noticed the following:
- People with the top 1% of net worth in the U.S. in 2022 had $10,815,000 in net worth.
- The top 2% had a net worth of $2,472,000.
- The top 5% had $1,030,000.
- The top 10% had $854,900.
- The top 50% had $522,210.
At age 50 the net equity in my house was about $10,000, and I maybe had $2000 in a checking account. I had a business failure in my 30s and then two divorces. I borrowed against the equity in my house to pay off my ex-wives leaving me with that $10,000.
Fast forward to my final, last, and best wife of 24 years.
To turn around my financial life I used the concepts that I laid out in my books and programs and it took me from being broke at age 50 to the top 1% of net worth.
Now please realize regardless of your net worth, you are still rich, especially when compared to the vast majority of the world’s population.
You probably have a car, a roof over your head, plenty of food to eat, electricity to power all the devices you have, libraries to read whatever you want, paved streets and highways to take you wherever you want to go, and so much more.
If you also want to have a dramatic transformation in your financial life, I recently opened up one Coaching slot and it filled immediately. Please reach out to me if you want to be on a waiting list.
To Your Prosperity,
Rennie
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