How Different is the Lifestyle of a Rich American and a Poor Indian?
The answer to the question: How different is the lifestyle of a rich US citizen and a poor Indian depends largely on where you live. Obviously, there is a vast difference between the lives of rich people in the US and those of poor people in India. The poorest people in the US typically make about $6,700 a year – that’s a high standard of living, but in India a quarter of the population lives on a penny.
The affluent groups in the US are also very different than those in India. Many rich Indian families regularly visit American universities to plan their succession. Many are letting go of control of their businesses and outsource certain areas, as the young inheritors are making them more demanding. The next generation will be more demanding, wanting to spend their time on things they find exciting, not be pressured to do something by their parents. They will also be more professional in certain aspects of their lives.
Rich people spend less time on saving and more on investing, despite the fact that they may have more money in their bank accounts. In fact, the average income of the wealthy is the average of their three closest friends. However, the rich have a different mindset than the poor. They focus on working hard and building avenues for further earning. And this mindset is largely responsible for their success.