3Yr·

I'd be interested to see how the self-perception and comparison with statistics is here in terms of wealth. "Surveys of self-perception of wealth distribution show that not even 3 percent of households feel they belong to the 20 percent that have the greatest wealth."

I myself couldn't agree more. Even with the value of the top percentile, I would not consider myself particularly wealthy. The wealth threshold to the top percentile is not even enough to buy a house/apartment in many places.

The leap to the real upper class or even wealth is then, in my opinion, many times greater.

Net household wealth = real estate + financial assets - liabilities

There is an interactive version of the graph in the source mentioned below. Highly recommended!

Source: https://www.iwkoeln.de/studien/judith-niehues-maximilian-stockhausen-grosse-gruppenspezifische-unterschiede-487547.html

45 Comments

Jason@ImmoundAktien4zewin

3Yr

So the top percentile up to 30 years is only 71.3k? Even if I'm above that, I still don't consider myself to be particularly wealthy.💁🏻‍♂️ I agree with you as far as that goes - although I do think that from 500k net assets, as an individual, I would consider myself to be very wealthy. (As of 26 years ago; ask me 20 years later again😁)

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SharkAce@SharkAce

3Yr

I agree with you there. I don't find the highest amount in my age group necessarily satisfying and wouldn't call myself wealthy....

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Nicolas Professioneller Rolls Royce Großaktionär Coole Leute: @leveragegrinding, @SharkAce und @Lorena(aber die ist nen bisschen schüchtern)@getquinfuermerchverkauft

3Yr

Can't very well compare myself to < 30 at 19. The age group is much too large

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Europoor@Europoor

3Yr

@RRToTheMoon I also consider <25 and 25-29 to be desirable.

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oki@oki

3Yr

have the feeling that some here are in the top percentile and those below lack the money to invest.

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Deleted User

3Yr

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ShakeAndBake263@ShakeAndBake263

3Yr

@Eochaid have you Gelsen why the so is 😅 is in the article

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Vince von Financial Independence@Financial_Independence

3Yr

I agree with you completely. Since it is now not even possible for 2 academics full time in the job, in urban centers outside the city to buy or finance a detached house, one asks increasingly whether emigrate is not an option! And if so, where to?

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Europoor@Europoor

3Yr

@Financial_Independence I find Cyprus interesting.

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Vince von Financial Independence@Financial_Independence

3Yr

@Europoor but is still the EU trap, where is aimed at everything so democratization, even your assets... All the same best! Thought therefore rather Switzerland, Australia, New Zealand, Singapore

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Europoor@Europoor

3Yr

@Financial_Independence Switzerland would be too expensive for me and the others simply too far away. If airfares rise rapidly in the next few years, the rest of the family won't be able to see them at all.

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Cathy@Cathy

3Yr

Oha, so either I'm much younger than 30 or I'm just poor. I thought my earnings weren't that bad until now. But I will also never be able to afford property at current prices 🥴

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Deleted User

3Yr

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Cathy@Cathy

3Yr

@Eochaid I also do not have the assets. Without the suitable earnings, also not the assets 😅🤷🏼‍♀️

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Europoor@Europoor

3Yr

@Cathy Of course, it can be demotivating if you only compare upwards. In the end, you should compare yourself first and foremost with yourself. It's better to do something within the scope of your own possibilities than nothing at all.

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Cathy@Cathy

3Yr

@Europoor yes, that anyway, but it is a bit frustrating. I have to admit that 😅 but I have now resigned myself to being a tenant forever, unless I win the lottery. The one time a year I play out of discreet frustration 😅🙈

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Vince von Financial Independence@Financial_Independence

3Yr

Exactly, even those who earn well or very well do not necessarily become wealthy! 😂

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Alphalex✖@StoneCo

3Yr

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Deleted User

3Yr

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Alphalex✖@StoneCo

3Yr

@Eochaid I told you low-wage earners, not even top 10%

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Europoor@Europoor

3Yr

@StoinksAlwaysGoUp But almost all of them are just meaningless countries. Apart from the USA and France, there is no country ahead of Germany that has anywhere near as many inhabitants as Germany or even significantly more. With a few hundred k inhabitants, it is not difficult to rank high in a per capita ranking.

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Deleted User

3Yr

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How$y 🗽@Howsy

3Yr

@Eochaid and again the tax burden is to blame 🙃

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Deleted User

3Yr

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How$y 🗽@Howsy

3Yr

@Eochaid There are also legal ways to minimize one's tax burden. Holding structures etc. But you will surely know that. For me personally, however, it is not yet worth it.

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Deleted User

3Yr

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How$y 🗽@Howsy

3Yr

@Eochaid you are again trying to put words in someone's mouth. Legitimate is that which is permitted by law. If an entrepreneur tries to optimize his tax burden (for you: legally) I can understand that. Every one of us tries to do that, or don't you do a tax return? Especially in view of the redistribution mania of some politicians/parties I can understand such steps. What your point with the fascists means, I don't understand. You are right in the sense that we have enough "German" idiots in the country (politically left and right) who are on the state's pocket. Fascists can establish German villages in the Ural Mountains and leftists can do agriculture and cattle breeding in North Korea. Problem solved? It's much too cozy here for that.

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Deleted User

3Yr

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Europoor@Europoor

3Yr

@Eochaid It is often a free decision to get into debt. The latest car, cell phone, clothing, general consumption, etc. are mentioned. Certainly, there are also enough people who are financially ruined by health. However, at least the most important health expenses are covered and also the education is at least formally free. (Greetings to the USA) That the Soli or other taxes for high earners change there I do not think something. One should bring more financial education into the center and above all the state should create possibilities, which make a realistic, economical private precaution possible. Who provides today privately in the depot and sometime unemployed has by his savings no claim on ALG2, after expiration of ALG1. This and many other things, such as the blatant percentages on additional earnings, signal to people at the lower end of the scale that personal initiative is not worthwhile. Apart from this, however, it must also be said that the citizens in the East are still (not only) financially isolated 30 years after reunification. Where the whole Soli (taxes are never earmarked anyway) has gone, I ask myself anyway. If you look at other statistics, you also see that social mobility is not very high. Who is born poor remains it idR also. In turn, the descendants of noble houses or merchants like the Fuggers are still rich today.

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SharkAce@SharkAce

3Yr

@Europoor On the one hand, there is a lack of education about general finances, whether taxes or the stock market. How often I hear from colleagues of the same age that the stock market is only for the rich and that it certainly brings nothing. On the other hand, the state must offer better support or at least not put any obstacles in the way. It can not be that one is punished in certain situations because one takes care of his reserves / strives.

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Deleted User

3Yr

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How$y 🗽@Howsy

3Yr

@Eochaid The jobs are well paid here in the East, too, but the problem is the taxes.

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Europoor@Europoor

3Yr

@Eochaid Why should one not be allowed/able to make provisions if one earns little or is even in ALG2? If someone works for 20 or 30 years and makes provisions and then becomes unemployed 5-10 years before retirement and is difficult to place, he has to use up all his money to get into ALG2 and then retires without reserves. Greetings to Schlecker and Karstadt. If one builds in there capping limits has that also hardly an advantage for "financially strong ones". The additional earnings referred not to a second job but to humans in ALG2 of an activity after-go or have otherwisewie income. Starting from the 100€ free border the state strikes there very hard. From a 450 € job then remain under 200 € and that also applies to the children in the community of need. So you teach them right away that work is not worth it. It was the same with orphan pensions in the past. I don't share your opinion about the East. People vote now because they were ignored for 30 years. After the reunification, all companies were broken up and all assets were moved to the West. You can do that, but then you don't have to be surprised that parts of the population then despise democracy.

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Deleted User

3Yr

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Deleted User

3Yr

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Europoor@Europoor

3Yr

@Eochaid Why a lump sum for savers? Link a kind of 401k with a maximum cap and cutoff on income to the last 10-20 years of income. Then the high earners also have nothing of it and if someone can put back per month only 25, 50 or 100€ is nevertheless still better than nothing. People with low income will be there anyway, I do not need to do a dance around it and hope that all are only doctor, lawyer and engineer. I do not know now exactly what examples you want, but you can look up what allowances there are for assets in the ALG2. Age*150 everything over it you must use up before there is money from the state. With the additional income over 100€ it is also quite simple. From 100€ you give 80% of each €. Calculation example for the mentioned marginal employment is here: https://www.hartziv.org/freibetraege-einkommen.html Thus only 170€ of 450€ remain. If you then subtract costs for travel or deposit for clothing, it is quickly clear why this is unattractive. Regarding the East, if populism, nationalism or worse would scare investors, then that would really be something new, greetings to China, Saudi Arabia, UAE, Russia. Regardless of politics, one cannot deny that the East was systematically exploited by the West during the transition. Nobody went there and took people's civics exams before the companies were flattened. Whether the people were democrats or not was of no interest to anyone when everything was knocked down. But of course it is a very simple narrative that people in the West like to tell themselves so that they can sleep better. That's why everything in the East is incorrigible, lazy people who have created nothing, so apart from all the stuff that was produced cheaply in the East before the fall of the Wall and sold in the West. On the whole, I share the opinion here: https://www.youtube.com/watch?v=OmuUbefez7U

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How$y 🗽@Howsy

3Yr

@Eochaid I realize that most taxes are the same for everyone nationwide. But the generally high tax burden is the problem. The best example is the upcoming increase in the minimum wage. The low-income earner gets 400€ more gross, but only 220€ come in. Madness. The company is allowed to pay it. And how does he finance it? By dismissing the colleague and making the articles/services more expensive. In the end, it is the "exploitative" entrepreneur who stands in the pillory. Meanwhile, the state and the parties are rubbing their hands. With such moronic demands as raising the minimum wage, they've got the voters on their side, and the higher gross salaries meanwhile generate even more tax revenue. Super!