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re: Excluding home equity, the median 40-44 year old has a net worth of just $58,000
Posted on 1/8/24 at 7:02 pm to LSURussian
Posted on 1/8/24 at 7:02 pm to LSURussian
The median matters more than the average in this case due to extremes on both sides. Wouldn't you agree?
I would also say there are more extreme cases on the upper end (a few billionaires in that age range) than on the lower end as there is no one billions in debt. I am sure the low end has billions worth of debt collectively but I am just not sure it outweighs the massive wealth of a few.
I would also say there are more extreme cases on the upper end (a few billionaires in that age range) than on the lower end as there is no one billions in debt. I am sure the low end has billions worth of debt collectively but I am just not sure it outweighs the massive wealth of a few.
This post was edited on 1/8/24 at 7:04 pm
2
Posted on 1/8/24 at 7:06 pm to stout
quote:Not really when over 30% of the population is on some type of government assistance.
The median matters more than the average in this case due to extremes on both sides. Wouldn't you agree?
I also think it's silly to remove home equity from net worth just to make some type of "OMG!" point.
Why not remove stock and bond holdings, too?
Posted on 1/8/24 at 8:37 pm to stout
quote:
would also say there are more extreme cases on the upper end (a few billionaires in that age range) than on the lower end as there is no one billions in debt.
Creditors limit the downside risk to a manageable amount. We’d have people far deeper in debt if they weren’t cut off
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