What defines a person’s wealth?

Jalen+McClain%2C+reporter

Jalen McClain, reporter

Everybody knows or has heard of the famous quote, “Never judge a book by it’s cover,” which can mean a plethora of different things.

People judge each other based off of how they look, their body language, and their personality.

The bad thing about judging somebody is you make assumptions when you do not actually know who that person is.

People can look rich but be poor, and people can look poor but be rich.

So it made me wonder, what defines a person’s wealth?

If a person drives a not-so-good-looking car, does that automatically make him poor? Or could he just be driving it because it still works and he does not want to spend the extra money for a new car?

Or could it be what a person wears that makes them look “rich”or “poor”?

I do not really think people should get judged on what they wear, drive, or do.

How someone looks should not define their wealth or make you think more or less of them.

A 2013 article in Time looked at a UBS survey of 4,450 people. In this survey, half had $1 million or more in investable assets and all of them had at least $250,000 in investments. UBS is a wealth management services firm.

In other words, four in 10 Americans with assets of $5 million or more think they’re not truly rich.

— Mr. Brad Tuttle

In the article, Mr. Brad Tuttle said, “Compared with the huge portion of the population that barely has any savings — about half of Americans don’t have an emergency fund that’d cover three months of expenses — it sure seems like the people in the survey are doing quite well financially. But do these people think they’re rich? For the most part, the answer is no.”

Tuttle also said, “Of those with investable assets worth $1 million to $5 million, only 28 percent answered yes to the question, ‘Do you consider yourself wealthy?'”

“The majority of investors surveyed with $5 million or more in investable assets consider themselves wealthy, but perhaps not in the overwhelming numbers you might imagine: Just 60 percent answered yes to the question,” Tuttle said. “In other words, four in 10 Americans with assets of $5 million or more think they’re not truly rich.”

We are all capable of making more than what we do. Do not let something as little as what you wear or how you choose to act define your wealth.

If you are happy with who you are and what you make, then that is all that matters.