Connect with us

Money

Quantifying What Success Means, According to 2,000 Americans

Published

on

The pursuit of success is a part of our cultural DNA.

Almost everyone wants to be successful – and many see it as the basis of the American Dream, which promises that every person can achieve success and prosperity through hard work, determination, and initiative.

However, despite a drive for obtaining success in our culture, the meaning of success isn’t fixed. It can be different things to different people, and there is no possible way of defining success in a way that is representative of every individual person.

Quantifying Success

Although there’s no objective definition of success, there are other ways to arrive at a more impartial meaning.

Today’s infographic from Thermosoft uses data from a survey of 2,000 Americans to show what “making it” means to them – and in the process, it gives us a baseline for what success means to the average person.

Quantifying Success: What It Means, According to 2,000 Americans

Survey respondents were asked what “making it” in America meant to them, and then that was compared to what they have.

A variety of individual factors were measured, and each fell within certain categories that could be important to one’s success, including career, family life, wealth, and travel.

Success, on Average

The survey data gives us a view of what success means, on average – and how close people are to “making it”.

Money
Respondents viewed $147,104 of income as “successful”, and this is the area people were furthest away from their ideal.

The average income of respondents was $57,426 – and 67% of respondents said that money was the major missing part of their equation for success.

Work
Respondents viewed 31 hours of work per week, a 10 minute commute, 5.3 weeks of time off, and working more from home as their ideal situation.

However, respondents were a little off on most of these measures, and far off for vacation time. The average person is working 34 hours per week, commuting 17 minutes, taking 2.8 weeks of time off, and working more from the office.

Notably, for 22% of people, a dream job was the missing part of their success equation.

Friends and Family
Respondents viewed marriage and kids, as well as four best friends, as ideal. On average, respondents fell slightly short here, though.

Property
How much would your home and vehicle be worth, if you “made it”? About $461,000 and $41,986 respectively.

Respondents fell short here, with $248,000 and $15,789 values for their home and vehicle.

What’s Missing?

Since success is subjective, the sense of what is “missing” varies considerably.

On average, income was the most important missing factor (67%) and a dream job was also a popular response (22%). Relationships and recognition were both 7%, respectively.

Answers also varied by group – for example, millennials were more likely to say their dream job was the missing factor.

While success may never be defined exactly for all people at all times, this is still an interesting amalgamation of the views that people have towards the subject.

Subscribe to Visual Capitalist

Thank you!
Given email address is already subscribed, thank you!
Please provide a valid email address.
Please complete the CAPTCHA.
Oops. Something went wrong. Please try again later.

Continue Reading
Comments

Chart of the Week

The Geography of the World’s 50 Top Billionaires

Where do the world’s top billionaires live, and how has this distribution changed over time? We take a look at the top 50 billionaires .

Published

on

The Geography of the World’s 50 Top Billionaires

The business world has undergone considerable change in the last two decades.

While some fortunes are always reliably passed on to their respective heirs and heiresses, there are also entirely new industries that rise out of nowhere to shape the landscape of global wealth.

As the wealth landscape shifts, so does its geographical distribution.

The 2019 List of Billionaires

Today’s chart uses data from the most recent edition of the Forbes Billionaires List to map the distribution of the world’s richest people, and then compare that to data from 20 years prior.

We’ll start here by looking at the most recent data from 2019:

RankNameNet Worth ($B)CitizenshipIndustry
#1Jeff Bezos131๐Ÿ‡บ๐Ÿ‡ธ USATech, eCommerce
#2Bill Gates96.5๐Ÿ‡บ๐Ÿ‡ธ USATech
#3Warren Buffett82.5๐Ÿ‡บ๐Ÿ‡ธ USAInvestments
#4Bernard Arnault76๐Ÿ‡ซ๐Ÿ‡ท FranceLuxury Goods, Cosmetics
#5Carlos Slim Helu64๐Ÿ‡ฒ๐Ÿ‡ฝ MexicoTelecommunications
#6Amancio Ortega62.7๐Ÿ‡ช๐Ÿ‡ธ SpainApparel
#7Larry Ellison62.5๐Ÿ‡บ๐Ÿ‡ธ USATech
#8Mark Zuckerberg62.3๐Ÿ‡บ๐Ÿ‡ธ USATech
#9Michael Bloomberg55.5๐Ÿ‡บ๐Ÿ‡ธ USAMedia
#10Larry Page50.8๐Ÿ‡บ๐Ÿ‡ธ USATech
#11Charles Koch50.5๐Ÿ‡บ๐Ÿ‡ธ USADiversified
#12David Koch50.5๐Ÿ‡บ๐Ÿ‡ธ USADiversified
#13Mukesh Ambani50๐Ÿ‡ฎ๐Ÿ‡ณ IndiaOil & Gas, Telecoms
#14Sergey Brin49.8๐Ÿ‡บ๐Ÿ‡ธ USATech
#15Francoise Bettencourt49.3๐Ÿ‡ซ๐Ÿ‡ท FranceCosmetics
#16Jim Walton44.6๐Ÿ‡บ๐Ÿ‡ธ USARetail
#17Alice Walton44.4๐Ÿ‡บ๐Ÿ‡ธ USARetail, Art
#18Rob Walton44.3๐Ÿ‡บ๐Ÿ‡ธ USARetail
#19Steve Ballmer41.2๐Ÿ‡บ๐Ÿ‡ธ USATech
#20Ma Huateng (Pony)38.8๐Ÿ‡จ๐Ÿ‡ณ ChinaTech
#21Jack Ma37.3๐Ÿ‡จ๐Ÿ‡ณ ChinaTech, eCommerce
#22Hui Ka Yan36.2๐Ÿ‡จ๐Ÿ‡ณ ChinaReal Estate
#23Beate Heister & Karl Albrecht Jr.36.1๐Ÿ‡ฉ๐Ÿ‡ช GermanyRetail
#24Sheldon Adelson35.1๐Ÿ‡บ๐Ÿ‡ธ USACasinos
#25Michael Dell34.3๐Ÿ‡บ๐Ÿ‡ธ USATech
#26Phil Knight33.4๐Ÿ‡บ๐Ÿ‡ธ USAApparel
#27David Thomson32.5๐Ÿ‡จ๐Ÿ‡ฆ CanadaMedia
#28Li Ka-shing31.7๐Ÿ‡จ๐Ÿ‡ณ ChinaDeveloper
#29Lee Shau Kee30.1๐Ÿ‡จ๐Ÿ‡ณ ChinaDeveloper
#30Franรงois Pinault29.7๐Ÿ‡ซ๐Ÿ‡ท FranceLuxury Goods
#31Joseph Safra25.2๐Ÿ‡ง๐Ÿ‡ท BrazilDiversified
#32Leonid Mikhelson24๐Ÿ‡ท๐Ÿ‡บ RussiaOil & Gas
#33Jacqueline Mars23.4๐Ÿ‡บ๐Ÿ‡ธ USAFood
#34John Mars23.9๐Ÿ‡บ๐Ÿ‡ธ USAFood
#35Jorge Paulo Lemann22.8๐Ÿ‡ง๐Ÿ‡ท BrazilDiversified
#36Azim Premji22.6๐Ÿ‡ฎ๐Ÿ‡ณ IndiaTech
#37Dieter Schwarz22.6๐Ÿ‡ฉ๐Ÿ‡ช GermanyRetail
#38Wang Jianlin22.6๐Ÿ‡จ๐Ÿ‡ณ ChinaReal Estate
#39Giovanni Ferrero22.4๐Ÿ‡ฎ๐Ÿ‡น ItalyFood
#40Elon Musk22.4๐Ÿ‡บ๐Ÿ‡ธ USAAutomotive, Tech
#41Tadashi Yanai22.2๐Ÿ‡ฏ๐Ÿ‡ต JapanApparel
#42Yang Huiyan22.1๐Ÿ‡จ๐Ÿ‡ณ ChinaReal Estate
#43Masayoshi Son21.6๐Ÿ‡ฏ๐Ÿ‡ต JapanBanking, Investments
#44Jim Simons21.5๐Ÿ‡บ๐Ÿ‡ธ USAInvestments
#45Vladimir Lisin21.3๐Ÿ‡ท๐Ÿ‡บ RussiaSteel, Transportation
#46Susanne Klatten21๐Ÿ‡ฉ๐Ÿ‡ช GermanyAutomotive, Pharma
#47Vagit Alekperov20.7๐Ÿ‡ท๐Ÿ‡บ RussiaOil & Gas
#48Alexey Mordashov20.5๐Ÿ‡ท๐Ÿ‡บ RussiaSteel, Investments
#49Gennady Timchenko20.1๐Ÿ‡ท๐Ÿ‡บ RussiaOil & Gas
#50Leonardo Del Vecchio19.8๐Ÿ‡ฎ๐Ÿ‡น ItalyEyewear

The most recent billionaires list features Jeff Bezos at the top with $131 billion, although it’s likely his recent divorce announcement will provide an upcoming shakeup to the Bezos Empire.

Bezos is just one of 21 Americans that find themselves in the top 50 list, which means that 42% of the world’s top billionaires hail from the United States.

Billionaire Geography Over Time

If we compare the top 50 list to that from 1999, it’s interesting to see what has changed over time in terms of geographical distribution.

Here’s the distribution of top countries on both lists, compared:

CitizenshipTop Billionaires (1999)Top Billionaires (2019)Change
๐Ÿ‡ท๐Ÿ‡บ Russia05+5
๐Ÿ‡จ๐Ÿ‡ณ China37+4
๐Ÿ‡บ๐Ÿ‡ธ United States1821+3
๐Ÿ‡ง๐Ÿ‡ท Brazil02+2
๐Ÿ‡ฎ๐Ÿ‡ณ India02+2
๐Ÿ‡ฎ๐Ÿ‡น Italy12+1
๐Ÿ‡ช๐Ÿ‡ธ Spain01+1
๐Ÿ‡ฒ๐Ÿ‡ฝ Mexico110
๐Ÿ‡จ๐Ÿ‡ฆ Canada110
๐Ÿ‡ง๐Ÿ‡ฒ Bermuda10-1
๐Ÿ‡ฏ๐Ÿ‡ต Japan32-1
๐Ÿ‡ซ๐Ÿ‡ท France53-2
๐Ÿ‡ธ๐Ÿ‡ฆ Saudi Arabia20-2
๐Ÿ‡น๐Ÿ‡ผ Taiwan20-2
๐Ÿ‡ธ๐Ÿ‡ช Sweden30-3
๐Ÿ‡จ๐Ÿ‡ญSwitzerland30-3
๐Ÿ‡ฉ๐Ÿ‡ช Germany73-4

In the last 20 years, Russia and China have stockpiled the most top billionaires, adding five and four to the top 50 list respectively. The United States added three, going from 18 to 21 billionaires over the timeframe.

On the other end of the spectrum, Germany, Sweden, and Switzerland have lost the most billionaires from the top 50 ranking.

Subscribe to Visual Capitalist

Thank you!
Given email address is already subscribed, thank you!
Please provide a valid email address.
Please complete the CAPTCHA.
Oops. Something went wrong. Please try again later.

Continue Reading

Markets

40 Stock Market Terms That Every Beginner Should Know

Getting a grasp on the market can be a daunting task for new investors, but this infographic is an easy first step to help in understanding stock market terms.

Published

on

40 Stock Market Terms That Every Beginner Should Know

Understanding the stock market can be a daunting task for any new investor.

Not only are there many concepts and technical terms to decipher, but nearly everybody will try to give you conflicting pieces of advice.

For example, if a stock in your portfolio falls in price, should you be accumulating additional shares at a lower price or should you be strategically cutting your losses?

Some experts will tell you one thing, while others will tell you precisely the opposite.

A Place to Start: Terminology

Before you drift into the many debates that the investing pundits are weighing in on, perhaps the most proactive step for a beginner is to simply learn to talk the same language as the pros.

Today’s infographic comes to us from StocksToTrade.com, and it covers the most important stock market terms that every new investor should know and understand. It’s enough to get any beginner on the same playing field, so they can start toying with the more nuanced or complex concepts in the investing universe.

While we don’t agree with the exact definitions of all of the terms, the list is adequate enough to get any new investor off the ground. It covers basic order terms like “bid”, “ask”, and “volume”, but it also goes into concepts like “authorized shares”, “secondary offerings”, “yield”, and a security’s “moving average”.

What’s Next?

Already got a handle on 40 of the most important stock market terms?

Visual Capitalist has a ton of other powerful visual resources for new investors, or anyone else hungry to learn about how markets work:

Crush the above resources, and you’ll be market savvy in no time!

Subscribe to Visual Capitalist

Thank you!
Given email address is already subscribed, thank you!
Please provide a valid email address.
Please complete the CAPTCHA.
Oops. Something went wrong. Please try again later.

Continue Reading
The Green Organic Dutchman Company Spotlight

Subscribe

Join the 100,000+ subscribers who receive our daily email

Thank you!
Given email address is already subscribed, thank you!
Please provide a valid email address.
Please complete the CAPTCHA.
Oops. Something went wrong. Please try again later.

Popular