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Message
re: Are you in the 1% club?
Posted on 1/25/15 at 3:15 pm to ell_13
Posted on 1/25/15 at 3:15 pm to ell_13
quote:
More than likely. Which may explain why it's a low number... Between all the poor people in China and India.
Half of all Americans have a net worth under fifty thousand dollars. The average American is worth three hundred thousand dollars.
"The U.S. has 42% of the world's millionaires, and 49% of those with more than $50 million in assets." LINK
0
Posted on 1/25/15 at 3:16 pm to siliconvalleytiger
Here - 
Posted on 1/25/15 at 3:16 pm to siliconvalleytiger
NTSA.
Has the thread already denigrated into what a 1% really is?
Has the thread already denigrated into what a 1% really is?
Posted on 1/25/15 at 3:16 pm to CajunAlum Tiger Fan
quote:It's not "low" but it's also not enough if you want to live comfortably for 20-25 years after retirement.
If you think $800k is low net worth
800k is easily attainable for any person who strives to start saving before the age of 30...and sadly that's apparently not enough of us.
Posted on 1/25/15 at 3:17 pm to VetteGuy
quote:
Has the thread already denigrated into what a 1% really is?
time for a mud check
Posted on 1/25/15 at 3:17 pm to siliconvalleytiger
This thread will be overflowing with honest responses.
Posted on 1/25/15 at 3:19 pm to 777Tiger
I think yall just underestimating how fricking poor the rest of the world is, for the most part.
I know that SlowFlowPro has touched on this before, but even the poorest in America have better quality of life/standard of living than the better part of the world. So, no, 750k doesn't seem low.
Yall are also underestimating how many total retards that are out there with no retirement savings. Relying on Social Security is a stupid retirement plan, but its all some people have.
I know that SlowFlowPro has touched on this before, but even the poorest in America have better quality of life/standard of living than the better part of the world. So, no, 750k doesn't seem low.
Yall are also underestimating how many total retards that are out there with no retirement savings. Relying on Social Security is a stupid retirement plan, but its all some people have.
Posted on 1/25/15 at 3:21 pm to southernelite
quote:
I think yall just underestimating how fricking poor the rest of the world is, for the most part.
no, I travel over a good part of the world for a living, I see what real poverty is, $800k in some places is immense wealth, just not here
Posted on 1/25/15 at 3:21 pm to siliconvalleytiger
No but America dominating as usual 
Posted on 1/25/15 at 3:21 pm to bayoubengals88
quote:
800k is easily attainable for any person who strives to start saving before the age of 30...and sadly that's apparently not enough of us.
What world do you live in? If you have a family and make sacrifices for the betterment of your family, it is not easily attainable. Take a low 6 figure household income with 3 Kids in private school and tell me how easy it is. Then remember that this is twice what the average american brings home.
Posted on 1/25/15 at 3:22 pm to CajunAlum Tiger Fan
quote:
If you have a family and make sacrifices for the betterment of your family, it is not easily attainable. Take a low 6 figure household income with 3 Kids in private school
Posted on 1/25/15 at 3:22 pm to southernelite
I think you're underestimating how little most Americans actually have. America currently sits in nineteenth place for median net worth.
Posted on 1/25/15 at 3:23 pm to southernelite
This is fact.
I had a bud that went into retirement planning with Met Life.
I was stunned when he told me how many 50+ people had no retirement savings at all. They had made decent money for the most part, but spent every nickel..
I had a bud that went into retirement planning with Met Life.
I was stunned when he told me how many 50+ people had no retirement savings at all. They had made decent money for the most part, but spent every nickel..
Posted on 1/25/15 at 3:24 pm to siliconvalleytiger
Yep
Posted on 1/25/15 at 3:33 pm to bayoubengals88
quote:
If I don't have the equivalent of today's 2 million dollars by the time I'm 60, I'll be pissed
To put this in perspective....
You would be taking home 150k a year for 30 years with that type of nest egg.
I understand it is an admirable goal, but most people do not clear that in a year now, but somehow believe they can't retire until they reach it.
Posted on 1/25/15 at 3:35 pm to The Third Leg
quote:
America currently sits in nineteenth place for median net worth.
Wasn't there an article a few years ago that put average net worth of black females in the negative?
Posted on 1/25/15 at 3:37 pm to VetteGuy
quote:
They had made decent money for the most part, but spent every nickel..
I used to be surprised when I would see members of upper management working past 65. I always thought they were working because they enjoyed the day to day challenges and wanted to be there. As I moved up with the company I then began to realize that they were only there because they couldn't retire. Those CC memberships, new vehicles, huge mortgages and play toys left them without any plan for later years.
I too will be leaving the workforce soon at my choice. I started planning very young and unless the world collapses, I have no worries and neither do my kids for my future.
Posted on 1/25/15 at 3:38 pm to siliconvalleytiger
quote:
everyone with wealth of $798,000 (£530,000) or more.
Seriously?
.1% is where it's at
Posted on 1/25/15 at 3:39 pm to fightin tigers
quote:
Wasn't there an article a few years ago that put average net worth of black females in the negative?
I would not be surprised. It is incredibly expensive to be poor.
Posted on 1/25/15 at 3:41 pm to CajunAlum Tiger Fan
Saving 10% would do it
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