Have you ever wondered why some people are broke, while others are successful? There are obviously many factors that contribute to the financial success or demise of an individual. With all the opportunities in the United States, you have the best chance of moving from poverty to prosperity there, correct? Wrong. At least that is what a recent study pointed out. You actually have a better chance of upward personal financial mobility in other affluent countries like Canada, Germany, Australia, France and Japan.
According to the study, you are also have a better shot of financial success if you grew up in a family that is part of the 1%. Your chances are 1 in 3 that you will make $100,000 or more as a family if you come from this group. The chances fall to 1 in 25 if you start out at the bottom.
Theses are not the only factors that contribute to personal economic success. Take a more detailed look at the info graphic below to get a better idea of what the study showed.
What factors contributed to your success? If you are struggling or broke, which factors should we avoid?