Income Bias vs Purchasing Power
Income Bias vs Purchasing Power
Purchasing power is not the same as income. The amount of income one receives for their product or service determines one’s income, but it does not define the amount of wealth they have accumulated. Many people define someone making a decent amount of money by how many figures they make per year. Majority of people, through conversations, will frame upper class as anything more than 250k per year. No one necessarily talks about how many assets they’ve accumulated because net worth is more private than the amount of money one makes per year. We call this the…
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