Are you wealth for your age 

A large part of feeling successful in life depends largely on if feel wealthy. Have you ever thought about if you are truly wealthy for your age? You can call yourself wealthy only if you can sustain your lifestyle even if you lose your source of income for a reasonable length of time. The great book millionaire next door first came out with a simplistic formula to find out if you are wealthy.

The simple formula is:

Multiply your age by your annual income from all sources. Divide this by 10 that is what your total net worth should be for you to in the top 1% of the population.

If you are 30 years old and your annual income is say Rupees 360,000 per year, your net worth should be Rupees Ten lakh Ten Thousand [(30 X Rs 360,000)/10 = Rs.10,10,000] in order for you to be considered wealthy.

So the more you make, the more should your net worth be for you to be wealthy according to this formula. A 30 yr old making 5Lakh a year is wealthy @ 15Lakhs, whereas a 30 yr old living next-door making 10k isn’t considered wealthy until her net worth reaches 30 lakh. The theory behind this formula is that wealth is based on maintaining you’re currently lifestyle and also the older you are and the more money you make, the more wealth you should have. This is because also so, the number is relative for each person’s situation. So if you are 40 and jobless (i.e. income = 0), then 40 x 0 = 0. Then if you have 10 bucks, you are not where you should be.