Learning About How the Wealthy Got Where They Are
There is a strong passion for many Americans to live the American dream and achieve their own version of success .Success means many things to many people. It most often means a certain level of wealth and a certain place where respect is due. Most in the higher income brackets think about their wealth and drive differently than those who are in the lower brackets.
Those who are more successful and wealthy are most often placed into a strong position by who they were when the were born and what they were given early in life. However, this is not everything needed to succeed. Most successful people have to work very hard to get where they want to go. It is not easy to have the drive and passion to move from one income bracket into another income bracket. Often, people follow very closely to the footsteps of their parents.
Affording Better Things
Granite countertops are often considered one of the most luxurious upgrades available in a kitchen in Sioux Falls. Granite is a beautiful and long-lasting material when cared for properly. There are many upgrades that the upper class is able to afford that a lower class cannot. Laminate is a more common material for the lower-middle class or the working class.
The difference between the various classes is not so much an official split, but one that is felt by the classes that earn less. The lower income brackets have to work hard for every dime or dollar and find it is hard to get ahead at the end of the day. Though the lower class is often more careful about spending and waste, they are often faced with more difficult decisions on what to fund and how to rack up debt.
Considering the Impact of Debt
The upper class realizes that there is bad debt that can hurt more than it can help. While certain debts for schooling or housing might be necessary for a better path in life, there are many debts, like credit cards or car loans, that are expensive and cost more in the long run then they are worth. The upper class focuses on the end goal of ROI (return on investment) spending, while many in the lower class focus more on convenience and comfort. This means that the lower class is often spending more money on nicer cars or better temporary things, while the upper classes are saving bigger sums of their money for reinvestment. Sometimes this is difficult to see, since many in the very upper reaches of the wealth bracket can afford both a lavish lifestyle and reinvestment.
The people in the higher income positions that got there by working (not just by family money) are more likely to be very driven and wiling to approach problems in an unconventional way. Rather than worry about their appearance, the rich often share a desire for spending frugally.
The upper classes that are successful at making and retaining wealth are able to look at ideas and see the ones that are likely to succeed. It is important to many in the higher brackets that they are successful, and with this success most often comes money. The money they have very likely will go towards assets that rise in value and do not depreciate.
photo credit: <a href="http://www.flickr.com/photos/65783775@N00/2115875246">Gray Kitchens_09</a> via <a href="http://photopin.com">photopin</a> <a href="https://creativecommons.org/licenses/by-sa/2.0/">(license)</a>
