- Perspective from a chart on wage growth
- Those in the top 10% had wages grow twice as fast as anyone else over my lifetime.
- Those in the middle grew slower than anyone else except the bottom 10% (17.4% vs 17.0%) so that the 4th quintile had nearly closed the gap with the 3rd quintile.
- Those in the bottom 10% had risen 17% but prior to the pandemic they had only ridden 0.1%
- This made me realize just how misaligned our economy had become.
- I figured I was in the middle quintile until I saw what the actual wages were and realized that I am in the top quintile bordering on the top 10%
- I realized that I have been making the equivalent of two average full-time incomes.
- I feel immense gratitude that I have been much more blessed financially than I had realized.
- I also realized that wealth is basically never built on wages. It is either built on earnings outside of wages or on decisions about how to use those wages because nobody could get wealthy just based on the wages I earn, they would have to also make very wise decisions with their income.
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