Many people ask, why are most Americans rich? The question is simple, here are most relevant answers.
Most Americans earn modest salary, which is enough top bills and invest. With a university degree, annual pay is in excess of $50,000.This money is good enough to spend and save some.
They are good entrepreneurs
Americans are good entrepreneurs. If you find one in business, that person has delegated all his energy into business. This spirit helps them a lot when it comes to making profits and investing.
They are good investors
Americans are good investors. They actually know the best places to sink their money into. Some of the best investment products they choose include pension schemes, bonds, shares and real estate products.
They have a supportive government
The government of America is very supportive towards its citizens. For instance, it has made sure aspiring entrepreneurs don’t get hard time starting business. The government has also ensured minimum wage is set such that no any individual can be paid less than the outlined minimum pay.
Most American citizens have joined pension schemes. Pension schemes are extremely important because they ensure dependants don’t get unnecessary financial woes when the parent dies. They also help a retiree live a comfortable life past retirement.
They also invest in annuities, which enables them receive lump sum amount upon retirement.
They take risks
Americans love taking risks. For instance, they can save their fortune in the riskiest ventures like shares, gaming business and oil exploration. These businesses can behave sometimes, leading to heavy returns.
Good saving habits
The U.S citizens have excellent saving habits. It’s not unusual to find an individual saving three quarter of their money while cutting their budget to slimmest levels.
Americans have the habit of giving birth to fewer children. This is the same habit that helps them cut spending on family. With the fewer children, they take insurance cover, thus reducing the amount they spend on educating their children.
Another factor that helps Americans become successful is their stable economy. Since their industries and businesses are doing well, the entire country is also blossoming.