Credit Suisse: Global wealth report 2013

[pom]

For those of us that are curious about wealth around the world:

https://www.credit-suisse.com/ch/en/news-and-expertise/research/credit-suisse-research-institute/publications.html

There is the 2013 report and for geeks there is the 2013 databook which is full of pretty interesting statistics. Some tables I find are very interesting, for exemple at the bottom of page 146:

Minimum wealth to be a 1 percenter - World: 750 000 USD
Minimum wealth to be a 1 percenter - North America (excluding Mexico): 3 900 000 USD
Minimum wealth to be a 1 percenter - Europe: 1 450 000 USD

Minimum wealth to be a 10 percenter - World: 75 000 USD
Minimum wealth to be a 10 percenter - North America (excluding Mexico): 550 000 USD
Minimum wealth to be a 10 percenter - Europe: 300 000 USD

Europe includes some fairly poor Eastern European countries so that explains why it is much lower than the USA.

Enjoy!

[SMP]

Thanks for sharing!
It's quite interesting for me, although it wont't change anything in my current life.

[RootofGood]

I'm feeling pretty wealthy today!  Not quite part of the 1% (in Europe or America). 

[nawhite]

Very cool data but when reading the report they are a little biased and don't give data that backs them up:

The groups with the highest levels of wealth
mobility included those aged 30–39, the more
highly skilled, workers in the service sector, higher
educated individuals, women, those whose marital
status changed, blacks, and those who did not own
their home. These results suggest that there can
be a dark side to wealth mobility. The higher mobil-
ity of the young, blacks and women may reflect
loss of earnings, periods of unemployment, epi-
sodes of poor health, divorce and other unhappy
events, as much or more than they do rising for-
tunes

(Emphasis Mine)

SHOW ME THE DATA FOR THIS!!! My guess would be that it would be just as likely for someone who started off REALLY disadvantaged (0 or negative net worth) to jump up 2 quintiles in wealth. Getting into the 2nd quintile just means going from 0 net worth to like 80k in wealth.

On a different story, page 35 of the report has an awesome Figure 4 (see attached) which shows how the wealth distribution will change among countries over the next 60 years. Basically, the US has very poor wealth mobility while other countries have much higher wealth mobility so we will keep a very similar absolute number of high net worth individuals, but other countries will get many many more. Its a really cool graph in my opinion.

[Jamesqf]

Yay, I'm a 10 percenter!

My guess would be that it would be just as likely for someone who started off REALLY disadvantaged (0 or negative net worth) to jump up 2 quintiles in wealth. Getting into the 2nd quintile just means going from 0 net worth to like 80k in wealth.

Yes, that's just math :-)  And I can tell you from my own experience that it's a lot easier to go from the 1st quintile to the 4th, than from the 4th to the 5th.

[CDP45]

I can't wait for Sol and other statists to tell us how much better europe is than American because its takes less wealth to be a 1%er there, but will neglect the fact that everyone is actually much poorer on average than in America. Because the left loves "facts," I'll bring some:

http://en.wikipedia.org/wiki/List_of_countries_by_GDP_%28PPP%29_per_capita (IMF list, looks like they have most recent data)

America: $51,704
"Advanced and Progressive" Germany: $38,666
Wow, 25% less than America, that's totally worth all the "benefits" of socialism.

Like i've said before, FIRE is basically impossible for the average person in those countries.

[chasesfish]

I can't wait for Sol and other statists to tell us how much better europe is than American because its takes less wealth to be a 1%er there, but will neglect the fact that everyone is actually much poorer on average than in America. Because the left loves "facts," I'll bring some:

http://en.wikipedia.org/wiki/List_of_countries_by_GDP_%28PPP%29_per_capita (IMF list, looks like they have most recent data)

America: $51,704
"Advanced and Progressive" Germany: $38,666
Wow, 25% less than America, that's totally worth all the "benefits" of socialism.

Like i've said before, FIRE is basically impossible for the average person in those countries.

But if it's government mandated poverty, it would be okay!  If statism worked, then Argentina would be the most prosperous county in the world.

I'm going to dig into those wealth mobility graphs.

[brewer12345]

Hey guys, does every thread have to turn into a political shitshow now?

[CDP45]

Hey guys, does every thread have to turn into a political shitshow now?

When something you love is threatened, then it gets personal. Like MMM says, we sacrifice our lives and blood now for freedom in our future.

[Russ]

[MOD VOICE]
No, it doesn't "get personal", at least not here. We pride ourselves in logical argument based on data, not personal attacks. If you have something to prove, prove it with numbers and people might start to listen (thank you for the wikipedia article for example CDP). No need to throw around inflammatory remarks. This thread started off civil; let's keep it that way.
[/MOD VOICE]