Why Do Only 10% of People Achieve Phenomenal Financial Success?

[Suba]

According to research conducted by Professor Raj Chetty of Harvard University, there is only a 10% chance that the world's poor will become super-rich. Initially, I thought this 10% probability was too high. I had only estimated it at 3 to 5%. However, if we look at it from a different perspective, the 90% of the world's population who are classified as poor will remain poor forever. This indicates that poverty growth is too high compared to wealth growth. This means that 90% of the world's population will grow rapidly, but their financial situation will remain stuck, widening the cycle of poverty.

A deeper analysis reveals that 9 out of 10 of the world's poor will remain poor, meaning only one in 10 will achieve financial success. Furthermore, we will find many sad songs about the pain of financial failure.

So, the question we all have is, why is there only a 10% chance of achieving financial success? and why do some people fail to realize their dreams of achieving financial success?

 

[eLdavis]

I guess this is probably because the journey to success is not an easy one, not everyone can handle the cost to succeed.

 

[Springtime]

Whether a poor person will remain poor forever depends on a number of factors. The social mobility opportunities offered by the society, whether the person works hard and smart. In my city, there are many successful and well off people were born in a poor family. They studied hard and got a good job after graduation. They save and invest their money to grow their wealth.