Back in 2021, my husband was scammed out of 2 billion won. Long story short, he purchased a large plot of land (South Korea). However, the land was located in a mountainous area designated as unfit for development, except for military or public use. Under the Forest Conservation Act, the area was virtually undevelopable, as it was meant to be preserved. Police believe that the real estate group subdivided the mountainous land into smaller lots and sold them to over 3,000 individuals, deceiving them by claiming to have insider information about upcoming redevelopment in the area.
what most people will be lucky to earn in an entire lifetime of work.
Nah most people will earn that much in a lifetime. 1.3 million dollars divided by 40 years is $32,500 per year. The median and average income in the US are both way above 32,500
https://dqydj.com/average-median-top-individual-income-percentiles/
The lifetime earnings for Americans is over a million dollars
https://www.theknowlesgroup.org/blog/average-american-lifetime-earnings/
Americans have very high incomes. That’s why they import so much.
Not for long.
The global average income is $7,000 US per annum. Americans are never getting near that.
Yeah, that’s a more realistic way to put it. Even people who most would consider stable and well off, not rich, those would be lucky to save that much for retirement.