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Income vs. Wealth – Different Definitions.. He qualified for a jumbo mortgage on a $750,000 home in an exclusive gated community, complete with a golf course. Bill’s children attend the most prestigious local private schools, and Bill and his wife drive current-model, imported luxury.
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Wealth definition is – abundance of valuable material possessions or resources. How to use wealth in a sentence.. ‘workhorse mentality’," 12 Sep. 2019 The foreign cachet Most foreign scientists come to China with a wealth of contacts, both in their home country and from around the world.
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Wealth provides a type of individual safety net of protection against an unforeseen decline in one’s living standard in the event of job loss or other emergency and can be transformed into home ownership, business ownership, or even a college education.
A recent report by the U.S. Census Bureau on household wealth in 2015 reveals that the wealth gap between home owners and renters is striking: The median net worth of home owners is 80 times larger than the median net worth of renters. The report found that home equity accounted for the largest.
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