“What bracket are you in? What bracket do you think?”
Most of the general population feel that a person that lies in the 1% is someone who makes an income greater than anyone else, yet controls 90 plus percent of the wealth. This is true when looking at how much income someone has or their overall wealth. You’re considered a member of the 1% if you fall in the $300,000 plus bracket. This amount of income vary depending on what city you may live. If you live in a small Midwest town, then you’re doing very well, but in New York City, you’re still in the middle. One may think it’s crazy to consider anyone making this kind of money is middle class. People say if I had that kind of money, the things I could do. How do I feel sorry for an individual making this much money? I only make between 40k and 50k.
Well, in order to make that level of income there are certain skill sets you have to attain. For starters, there’s the environment where you come from or grow up. If you are from an impoverished community chances are you will have a harder time being a member of the 1%. On the other hand, individuals coming from a community where everyone is on average upper middle to upper class will have a higher chance of continuing this path. Why is this; why is it so hard to rise in economic status. One reason is that coming from a much higher income environment, you have opportunities not made available to someone from the lower class. Another reason there is such a vast difference is not only opportunities, but the thought process of the people around them. The mind frame of people in the 1% income is always about going forward, but the lower class can only se what’s in front of them.
So since we know the growing up aspect, what about the educational side of things. Some may believe all you have to do is go to college, get out, and get a high paying job with your degree. The problem with this is two things: 1) college degrees don’t equate to work experience and 2) a degree with no work experience from a job pertaining to your degree is meaningless. Basically what I am saying is that if you go to business school, but only work fast food or retail jobs in undergraduate school, this doesn’t equate to business experience. 99% thinking is what I just described, but 1% thinking is college degree, internships, resume, and references. It’s like applying to college all over again. The only people whose degree outright works for them are doctors and some attorneys. So when people say go to school get your degree, you only listen to them to get the piece of paper, but get involved in other activities as well. Remember that school is only a matriculation into a system of economy; ,meaning fall in line and get a job.
The next level is the job market, which is where one tends to rise in the rankings. Here is the place where people generate their connections and further build their networks. The workforce is also a place where someone can rise in their job if they know the right people. But how do you know the right people if you’re coming from the lower class. This is why it’s important to start building your network in college if you are from the lower class. This will help you land a great job after college by being linked to the right people. Now the right people are those who can help you get your foot in the door when landing that job out of college. Be prepared to kiss a lot of behind and schmoozing as well. Just working hard doesn’t work because the hardest working Americans usually are the poorest. Meaning going to work eight hours per day coming home and doing the same the next day for five days a week is not enough to persevere. You must do more, go to company events, socialize with upper management, get in where you fit in so to speak. Like I said before, prepare to do some serious schmoozing.
A lot of people want to excel and brings themselves up to another level. The only thing is that they don’t understand the many obstacles and games one must play to reach that next level. But with any level we reach, we aspire to move up to yet another place. With every level comes new hurdles and new barriers entry. So, let me ask you; you still think being 1% is about or how one thinks? Managing your money not letting your money manage you. All these things I named are what can either make you a one percenter or not. If you’re comfortable where you’re at fine, a lot of people are in this country. But if you’re not happy or not comfortable, get ready for the long road ahead of you.