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Posted on 1/15/24 at 7:03 pm to One Arm Steve
quote:
Curious what the MEDIAN net worth would be
According to the above post, about three fitty
Posted on 1/15/24 at 7:03 pm to Motownsix
That's the biggest crock of shite article ever. Journalism is completely in the toilet.
Posted on 1/15/24 at 7:04 pm to Motownsix
The median is much more useful in this case. Most 50 somethings are ill prepared for retirement and nowhere near $1m. Rich are bringing those averages up. I'm doing my part making up for a few $0 net worth deadbeats.
quote:
Average net worth: $1,132,532 (ages 50-54), $1,442,075 (ages 55-59)
Median net worth: $272,800 (ages 50-54), $320,700 (ages 55-59)
Posted on 1/15/24 at 7:04 pm to Motownsix
So the average is more than 3x the median.
That’s sone serious wealth disparity
That’s sone serious wealth disparity
Posted on 1/15/24 at 7:04 pm to Motownsix
He'll yeah. Us Gen Xers are rocking.
Posted on 1/15/24 at 7:05 pm to Motownsix
That is do to the top being so high. From your article:
Median is much more applicable here.
quote:
Median net worth: $272,800 (ages 50-54), $320,700 (ages 55-59)
Median is much more applicable here.
Posted on 1/15/24 at 7:05 pm to Motownsix
Such a dumb, click-bait article. Let's break it down:
1/ That huge gain is because the fed has fricked up the real estate market beyond belief. Cheap money + market panic + a never-ending flow of new renters means the real estate market is artificially inflated. Reduce the inflow, increase interest rates, or reduce regulation/market controls and real estate will go back to a logical place. On the flip-side, keep adding 300k families to the market every year and yes, real estate will keep going up.
2/ Acting like Gen-X didn't suck every biz-dick required to get to an attractive net-worth is lame and gay. Go frick yourself. Hard workers get rewards; news at 5.
3/ The market self-corrects. Ne'er-do-wells/ wealth-inheritors that do not deserve their inheritance ALMOST ALWAYS put their assets back in to the system because they are incapable of not losing their fortune. The system fixes itself.
Another idea to re-normalize: Do something about AirBnB culture. When every cheap option is owned by a soyboy doing short-term rentals the market can get distorted. Maybe they should play by the same rules as hotels/motels?
The entire article is clickbait marxism. They can EAD.
1/ That huge gain is because the fed has fricked up the real estate market beyond belief. Cheap money + market panic + a never-ending flow of new renters means the real estate market is artificially inflated. Reduce the inflow, increase interest rates, or reduce regulation/market controls and real estate will go back to a logical place. On the flip-side, keep adding 300k families to the market every year and yes, real estate will keep going up.
2/ Acting like Gen-X didn't suck every biz-dick required to get to an attractive net-worth is lame and gay. Go frick yourself. Hard workers get rewards; news at 5.
3/ The market self-corrects. Ne'er-do-wells/ wealth-inheritors that do not deserve their inheritance ALMOST ALWAYS put their assets back in to the system because they are incapable of not losing their fortune. The system fixes itself.
Another idea to re-normalize: Do something about AirBnB culture. When every cheap option is owned by a soyboy doing short-term rentals the market can get distorted. Maybe they should play by the same rules as hotels/motels?
The entire article is clickbait marxism. They can EAD.
This post was edited on 1/15/24 at 7:25 pm
Posted on 1/15/24 at 7:05 pm to BHTiger
quote:
The “median” American household – picture the middle number in a long list of numbers – achieves a net worth of around $300,000 in the 50-to-59 age range, a far cry from $1 million
quote:
Me, the uber rich drive this "average"
And the extreme poor drive the “average” down.
Posted on 1/15/24 at 7:08 pm to GreatLakesTiger24
Do you wake up thinking, “what stupid shite can I post today?”
Posted on 1/15/24 at 7:09 pm to cubsfan5150
In
Posted on 1/15/24 at 7:09 pm to Motownsix
How many 50 year old s have both parents to pass away and to already received inheritance?
I doubt that it's more than 30% to have had both parents pass away and received some type inheritance.
I doubt that it's more than 30% to have had both parents pass away and received some type inheritance.
Posted on 1/15/24 at 7:10 pm to Motownsix
I’m in but no inheritance help.
Posted on 1/15/24 at 7:11 pm to East Coast Band
quote:
I doubt that it's more than 30% to have had both parents pass away and received some type inheritance.
Covid?
(But the first kind)
Posted on 1/15/24 at 7:12 pm to Motownsix
quote:
And the extreme poor drive the “average” down.
You obviously aren’t in the millionaire group
Posted on 1/15/24 at 7:13 pm to LSUFanHouston
quote:
So the average is more than 3x the median. That’s sone serious wealth disparity
Agree.
Posted on 1/15/24 at 7:14 pm to BHTiger
quote:
Me, the uber rich drive this "average"
Sorry, guys
Dont hate me cuz u aint me
Posted on 1/15/24 at 7:16 pm to GreatLakesTiger24
I can get down with this…
Posted on 1/15/24 at 7:18 pm to Motownsix
My second wife made me a millionaire at age 50. I was a billionaire before that.
Posted on 1/15/24 at 7:18 pm to Motownsix
quote:
And the extreme poor drive the “average” down.
I help you out here. If the average (mean) is $1M yet the median is $300k, this is roughly how the histogram would look:
The extremes on the high end are driving the mean up.
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