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re: Are you richer than the average American?

Posted on 8/17/14 at 3:58 pm to
Posted by blades8088
Covington
Member since Nov 2008
4282 posts
Posted on 8/17/14 at 3:58 pm to
I'm not to sure those numbers are correct
Posted by CaptainJ47
Gonzales
Member since Nov 2007
7704 posts
Posted on 8/17/14 at 3:58 pm to
My net worth is +\- 215k depending on the market that day. Age 33 puts me prolly top 25% I would think
Posted by Sampson
Drusilla and Jefferson
Member since Mar 2012
25028 posts
Posted on 8/17/14 at 3:59 pm to
quote:

there's nothing but their lack of ability and motivation...oh wait, so the problem is not that there is an income/wealth gap, but there is a talent/motivation gap

exactly

Posted by 777Tiger
Member since Mar 2011
87770 posts
Posted on 8/17/14 at 3:59 pm to
quote:

My net worth is +\- 215k depending on the market that day. Age 33 puts me prolly top 25% I would think

ain't worth jack until you cash it out
just over one share of Berkshire BTW
This post was edited on 8/17/14 at 4:01 pm
Posted by Golfer
Member since Nov 2005
75052 posts
Posted on 8/17/14 at 4:00 pm to
quote:

How can someone possibly survive on this?


That's net worth. Not annual income.
Posted by blades8088
Covington
Member since Nov 2008
4282 posts
Posted on 8/17/14 at 4:02 pm to
quote:

How can someone possibly survive on this?

Majority are actually surviving on less than that
Posted by CaptainJ47
Gonzales
Member since Nov 2007
7704 posts
Posted on 8/17/14 at 4:03 pm to
No technically I own it. Also included in there is home and rental property equity- conservative estimates though.
Posted by Carson123987
Middle Court at the Rec
Member since Jul 2011
67762 posts
Posted on 8/17/14 at 4:03 pm to
quote:

quote: $56,335 How can someone possibly survive on this?


No clue
Posted by Shexter
Prairieville
Member since Feb 2014
18952 posts
Posted on 8/17/14 at 4:04 pm to
Posted by TigerintheNO
New Orleans
Member since Jan 2004
43961 posts
Posted on 8/17/14 at 4:04 pm to
quote:

I'm not to sure those numbers are correct


Read the article the numbers are from the report issued by the Federal Reserve and are 7K higher that your link from CNN.
Posted by JumpingTheShark
America
Member since Nov 2012
24597 posts
Posted on 8/17/14 at 4:04 pm to
quote:

What was the exact decrease?


See the OP
Posted by 777Tiger
Member since Mar 2011
87770 posts
Posted on 8/17/14 at 4:07 pm to
quote:

No technically I own it. Also included in there is home and rental property equity- conservative estimates though.

sorry, I was thinking the stock market, I truly think that real estate is the best opportunity to emerge from peon status for most people, regardless of their profession, I've made decent money from my day job over the years, but I've almost matched it, and not trying real hard, through real estate
Posted by blades8088
Covington
Member since Nov 2008
4282 posts
Posted on 8/17/14 at 4:08 pm to
I stand corrected.
Posted by HempHead
Big Sky Country
Member since Mar 2011
56508 posts
Posted on 8/17/14 at 4:09 pm to
quote:

I've made decent money from my day job over the years, but I've almost matched it, and not trying real hard, through real estate


As my grandfather always told me, "They ain't making any more of it."
Posted by tankyank13
NOLA
Member since Nov 2012
8159 posts
Posted on 8/17/14 at 4:11 pm to
quote:

How can someone possibly survive on this? 



Not surprised, the average American would ask this same question; explaining the reason of said statistics
This post was edited on 8/17/14 at 4:13 pm
Posted by 777Tiger
Member since Mar 2011
87770 posts
Posted on 8/17/14 at 4:11 pm to
quote:

As my grandfather always told me, "They ain't making any more of it."

and he was right!
Posted by blades8088
Covington
Member since Nov 2008
4282 posts
Posted on 8/17/14 at 4:12 pm to
quote:

As my grandfather always told me, "They ain't making any more of it."


Sure they do, but only to send it overseas to be the world saviors
Posted by Ole War Skule
North Shore
Member since Sep 2003
3409 posts
Posted on 8/17/14 at 4:14 pm to
Posted by notiger1997
Metairie
Member since May 2009
61230 posts
Posted on 8/17/14 at 4:15 pm to
What?
Posted by recruitnik
Campus
Member since Jul 2012
1223 posts
Posted on 8/17/14 at 4:17 pm to
quote:

How can someone possibly survive on this?


Know how I know your net worth isn't that high? You don't understand what net worth is.
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