Wealth Tiers

I came across this interesting and brilliant take on wealth tiers and thought of sharing it here for a short post.

These 7 tiers described below is definitely more nuanced and applicable towards a general audience than what I shared about a year ago.

CT debating wealth again. I prefer the following tiers:

– Needs a job
– Doesn't need a job
– Needs to work in some form
– Doesn't need to work
– Needs to earn investment income
– Doesn't need to earn anything again to live
– Multiple generations don't need to ever earn to live

— BowTiedNightOwl (@BowTiedNightOwl) April 19, 2022

All of us probably have to work on climbing this ladder and sadly, most  would be stuck at the bottom tier for a long long time. Nothing wrong with that sometimes and it could also be an issue of bad luck/circumstance for some.

I have also started to recalibrate my ambition and getting to the stage where I do not need to earn anything to live has to be an ultimate aim. Well, I am still just in my mid-thirties.

Since I do have a little financial buffer and my personality and disposition does not lend well to being in a job, it’s work then for me. And I do think that I would still need to work in some form to earn income, at least for the rest of this decade.

It has also got me thinking about the sustainability of my current main gig, which is being a tutor. The main working hours (weekends and weekday evenings) are the opposite of a typical office worker. When you rest, I work and when you work, I rest. Not going to lie, this arrangement has been a boon so far.

But with the addition of a new family member, it’s a matter of time before we have to conform towards social norms. The kid would almost certainly have to go to school and since I do enjoy spending alot of time with him, it’s time to start planning the great transition (2-3 years) towards some form of remote work/business. Additional boon is that we would not be tied geographically, town/country.

Being anonymous and providing value is likely a hard grind but it’s the only future I can see. It’s a reset but if I have done it once about a decade ago, what’s stopping me from doing it again, and achieving greater success?

Thanks for reading.