Build Your Wealth
How does a mortgage work?
When someone buys a home, they will usually need to borrow money from a lender to help finance the purchase. The terms of a loan are written into a document...
FixMeFirst.me defines wealth simply as a ratio of money and time. Certainly there are numerous ways in the world that wealth is calculated, FixMeFirst.me chooses to use income and hours worked per week as a baseline for all wealth discussions because it’s meaningful to the typical person.
| Income Breakdown vs. Weekly Hours Worked | |||||
|---|---|---|---|---|---|
| Lower Middle Class | Middle Class | Upper Middle Class | Upper Middle Class | Income Abundance | |
| Income ($) | 50,000 | 100,000 | 200,000 | 350,000 | 500,000 |
| Weekly Hours Worked | |||||
| 90 + | Poor on Time | Poor on Time | Poor on Time | Poor on Time | Poor on Time |
| 70 - 89 | Moderately Poor on Time | Moderately Poor on Time | Moderately Poor on Time | Moderately Poor on Time | Moderately Poor on Time |
| 50-69 | Lower Middle Class with Time | Lower Middle Class with Time | Lower Middle Class with Time | Lower Middle Class with Time | Lower Middle Class with Time |
| 40-49 | Middle Class with Time | Middle Class with Time | Middle Class with Time | Middle Class with Time | Middle Class with Time |
| 30-39 | Upper Middle Class with Time | Upper Middle Class with Time | Upper Middle Class with Time | Upper Middle Class with Time | Upper Middle Class with Time |
| 20-29 | Highest Level of Middle Class | Highest Level of Middle Class | Highest Level of Middle Class | Highest Level of Middle Class | Highest Level of Middle Class |
| <20 | Time Abundant | Time Abundant | Time Abundant | Time Abundant | Time Abundant |