Wealth accelerates when the estate earns more than the salary

Wealth accelerates when the estate earns more than the year's pay. Fagereng et al. (Econometrica, 2020) found Norwegian returns rise 18 percentage points from the 10th to the 90th percentile of net worth. Bach, Calvet and Sodini (AER, 2020) found the same curve in Sweden, U-shaped, with the top on private equity. Weltee Personal puts salary, house, private interest, and LP NAV on one dated page so the slope is visible.