June 22, 2015
In a city like New York it's easy to feel poor. Even if you're pulling down six figures, you still probably cringe at your monthly rent and can't afford that summer share on the Hamptons. On the other side of the coin, we can just as easily start to feel richer than we are thanks to the fact that we live in the greatest city in the world and have access to opportunities that few places in the world can claim. But outside of our skewed bubble of NYC, most of us are actually just plain old middle class. As Fast Co. Exist reports, "For all that wealth inequality is now discussed in America, people consistently under- and overestimate their own place on the wealth spectrum. The wealthy think they’re middle class. The poor think they’re middle class. The actual middle class is probably struggling. One reason is that most people know people about as rich or poor as themselves, so everyone thinks they are more normal than they are."
There's a new tool, however, to set us all straight. The Wealthometer, created by Harvard University economist Maximilian Kasy, has you enter your assets, and it then tells you where you fall in the distribution of wealth.
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