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posted by
martyb
on Saturday January 27 2018, @12:43PM
from the I-got-mine!-And-Yours.-And-Yours.-Annnnnd-yours,-too. dept.
from the I-got-mine!-And-Yours.-And-Yours.-Annnnnd-yours,-too. dept.
The 1% grabbed 82% of all wealth created in 2017
More than $8 of every $10 of wealth created last year went to the richest 1%.
That's according to a new report from Oxfam International, which estimates that the bottom 50% of the world's population saw no increase in wealth.
Oxfam says the trend shows that the global economy is skewed in favor of the rich, rewarding wealth instead of work.
"The billionaire boom is not a sign of a thriving economy but a symptom of a failing economic system," said Winnie Byanyima, executive director of Oxfam International.
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Only 1% of World's Population Grabbed 82% of all 2017 Wealth
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squatcho, n.:
The button at the top of a baseball cap.
-- "Sniglets", Rich Hall & Friends
(Score: 2) by The Mighty Buzzard on Saturday January 27 2018, @06:34PM (1 child)
Eighteen but yes. If it were reliable and accounted for inflation, an index fund would be a good way to do so.
My rights don't end where your fear begins.
(Score: 2) by mmcmonster on Saturday January 27 2018, @08:22PM
Index year = $10k
Index year + 6 = $20k
Index year + 12 = $40k
Index year + 18 = $80k
There's a doubling every 6 years (when you invest dividends and put the money in a low cost index fund such as VFIAX or VTSAX).
That's the magic of compounding interest.
This will dramatically overcome any inflation rates visible in the U.S.