Casually Explained: Levels of Wealth

When we think of money, it's usually in terms of what things we can buy with it. But your level of wealth doesn't only determine what you own. It can determine entirely what your life looks like and I wanted to give a bit of an overview of what that could look like at some different intervals. Now at the bottom of the pyramid, of course we have the alcoholic, amphetamine abusing lowlife who mooch off public services because they can't pay their debts or find a job. Fuckin grad students. Disgusting. Next we have the working and middle class which makes up about 90% of the population. Even though it might seem like they can't accomplish much compared to the elites of society, members of the middle class can work together to become much more powerful. As an example with one roommate they can afford rent but with two they can afford furniture. The middle class earns up to 300,000 a year but the median individual income is a lot more modest at 38,000. This can be pretty misleading though because if you're 50 with a wife and two kids 38k a year is pretty rough but if you're 21 and single you're buying resale Yeezys thinking man I wonder how much sex I'd have I didn't live with my parents so in conjunction I think there are a couple lifestyle indicators to check to see if you're in the middle class such as your grandparents had five kids your parents have three kids and you're gonna put a stop to it once and for all and you don't have an emergency fund because you figure that if you're on vacation your appendix gives out Why would you spend 20k on surgery when you could just die? So moving beyond the middle class we get to the start of your truly wealthy people these are the notorious 1% Who typically have an individual income of three hundred thousand or higher or a net worth of over 8 million. Usually this means you have more than one home, active investments, travel whenever you want and basically have the best of everything short of private jets and a ballot front to seasonpass But in the same way someone in the arts might wave their fist at an accomplished engineer There's a huge difference between people within the 1% as an example if you're worth 75 million you have the ability to see almost anyone in the world just by asking But if you're worth 75 billion you have the ability to see almost anyone in the world without asking Once you're worth over a hundred million dollars people use your first and last name when they talk about you And if you're not famous you at least have a Wikipedia page that you didn't make yourself you likely make up to ten million a year which to compare with a more normal income is like going to Costco and paying a $1.50 for a hot dog but getting a hundred hot dogs I don't know why I left that in, um at this point your wealth is almost magnetic to more wealth and ironically things start costing less I could pay $5,000 for a Gucci suit and people might think I'm cool If I were actually cool Gucci would have paid me to wear it. Well it sounds pretty great You might start to wonder if people like you for you or only like you because you're rich and famous Fortunately though you are rich and famous so finally, at the very top of the pyramid we have the people worth over a billion dollars the 0.001% Guys like Elon, Jeff, Branson, and Bill these people have so much money They can literally change the world Save the kids. Done. Create your own space program. Done. Dinner with the president. You are the president. You don't fly business. You buy the business. When you get pet supplies from Amazon You mean the rainforest and when you say, "Hey, babe." "How about I drive this time?" you're talking to the car if you look at the absolute top Jeff Bezos recently overtook Bill Gates and to be as rich as the two of them you would have to earn about $5,000 every minute you were alive they even said themselves. "I don't think I could even spend the money if I tried" Fucking amateurs. now with the pyramid capped off if we step back it does seem like the implication here Is that your life gets better the more money you have which brings about the age-old question of does money buy you happiness? and for what I've looked at I think the best explanation is that money won't buy you happiness they can make problems go away that make you unhappy Like when you go to take money out of your bank account and get charged a fee because there's no money in your bank account When you buy tickets online you have to pay extra for doing all the work yourself With that said I wanted to end it at that point But I showed my friend, and she said "is that it?" "is it... "...just first world countries?" "What about the rest of the world?" and you know like they say you can't make your sneakers and wear them too The good news is that my demographics show that there aren't many people in third world countries watching my videos They don't have internet, so, um, we'll worry about that another time Um, there's a quick side note if you want to get an audio version of any of my videos you can go to the cast box app or website and subscribe to the casually explained channel Right now. I think there's only one video uploaded there But the rest are gonna be processing over the next day or two and you can get an audio version of all the latest videos that I make and maybe like a little bit of exclusive You know, audio-only content coming up in the future so go check that out. That'd be great. Thank you.

Channel: Casually Explained

Views: 10,361,356

Rating: 4.8799553 out of 5

Keywords: casually explained, wealth, levels of wealth, richest people, 1%, 99%, 99% and 1%, rich vs poor, socioeconomic status, wealth pyramid, money, how to get rich, does money make you happy, are rich people happier, comedy, stand up comedy, animation, animated comedy, envelope laser rectangle, attract money, prosperity, success, money magnet, rich, how to make money, how to

Id: JANApS0P4z8

Length: 4min 38sec (278 seconds)

Published: Sat Nov 25 2017

Reddit Comments

[u/xAlecto]

The fucking battlefront II season pass lmao

[u/Zephk]

https://en.wikipedia.org/wiki/CasuallyExplained I am sad

[u/sungmny]

This is definitely my favorite casually explained video yet.

[u/kalir]

this is actually helpful for me. thanks for the video

[u/velvetnights]

really enjoyed this one

but am i the only 3rd-worlder that was a bit hurt/offended by the end? :/

[u/[deleted]]

There was a thread about this with almost the exact same comments...

http://www.reddit.com/r/AskReddit/comments/2s9u0s/what_do_insanely_wealthy_people_buy_that_ordinary/cnnmca8

[u/Jurryaany]

Absolutely amazing as always!

[u/XiamenGuy]

Awesome he started a podcast version. Need something new to listen to on my ride to work.

[u/velvetnights]

really enjoyed this one

but am i the only 3rd-worlder that was a bit hurt/offended by the end? :/