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re: Average Net Worth vs. Median Net Worth in the US.
Posted on 10/15/21 at 1:53 pm to USMEagles
Posted on 10/15/21 at 1:53 pm to USMEagles
quote:
Yeah, those numbers all look really high to me. I suspect some of those age ranges have negative net worth on average.
Especially as high as real estate has gotten. I'm curious how they're figuring in unrealized gains on real estate. Zillow? Tax assessments?
A 31yo married couple with 2 kids, student loans, a mortgage, couple of car payments, etc. and the median household net worth is +$35k? I seriously doubt it's that high.
2
Posted on 10/15/21 at 1:54 pm to Mootsman
quote:
My king ranch is worth more than half people in the 30-40 age range.
Yeah, but you still owe 63 payments.
Posted on 10/15/21 at 1:55 pm to OldSouth
quote:
Those numbers are ridiculous. I don’t know many 60-70 yr olds worth over a million dollars. Much less the average.
I’m 59 and almost all my acquaintances who are contemporaries are worth at least two million dollars. My wife and I have about $2.2 million just in 401K. That doesn’t count home equity or any other investments.
Posted on 10/15/21 at 1:57 pm to X123F45
quote:
doubt I have a liquid 12k at the moment.
But my net worth is apparently strongly in the 7 figures because of land.
HOW!?!?! If I had 7 figures worth of assets and minimal cash on hand to tend to those physical assets I’d be terrified and couldn’t sleep at night.
Posted on 10/15/21 at 1:57 pm to LNCHBOX
quote:
I feel like I don't do anything close to enough saving wise, and I'm way above the median for my age group just in my retirement accounts. Got even more when factoring overall net worth. Makes me feel a little better , but not really
That's awesome, man....you should feel good about that.
My mortgage debt is weighing down my net worth pretty heavily. Still in damn good shape but would look a whole hell of a lot better without my house in the debt column.
Posted on 10/15/21 at 1:58 pm to Mootsman
quote:
My king ranch is worth more than half people in the 30-40 age range
Posted on 10/15/21 at 1:58 pm to Mootsman
quote:
45-49 Median Net Worth $164,196.96
That number is including home value.
Looking at those numbers, I'd say that easily 70% of the country is seriously poor.
Posted on 10/15/21 at 1:58 pm to Penrod
quote:
I’m 59 and almost all my acquaintances who are contemporaries are worth at least two million dollars. My wife and I have about $2.2 million just in 401K. That doesn’t count home equity or any other investments.
I’m 33 and I just assumed most nearing retirement age folks like yourself have this. My parents do. I guess I just lived in a bubble all my life where my family and my friends parents saved and planned.
Posted on 10/15/21 at 1:58 pm to Mootsman
I wouldn't trust any govn't data.
Posted on 10/15/21 at 2:00 pm to Oilfieldbiology
Why would you need cash for a land investment?
Posted on 10/15/21 at 2:00 pm to mmmmmbeeer
quote:
My mortgage debt is weighing down my net worth pretty heavily. Still in damn good shape but would look a whole hell of a lot better without my house in the debt column.
Yup
Posted on 10/15/21 at 2:01 pm to mmmmmbeeer
quote:
A 31yo married couple with 2 kids, student loans, a mortgage, couple of car payments, etc. and the median household net worth is +$35k? I seriously doubt it's that high.
What makes you think the median 31 year old is married and has two kids?
Posted on 10/15/21 at 2:01 pm to Oilfieldbiology
quote:
7 figures worth of assets and minimal cash on hand to tend to those physical assets
I'm gonna assume it's hunting land.... Not much maintenance there.
Posted on 10/15/21 at 2:03 pm to Shexter
quote:
That number is including home value. Looking at those numbers, I'd say that easily 70% of the country is seriously poor.
The number includes only home equity. Not the entire value of the home, since the mortgage is debt which reduces your net worth.
Most people in their 40s don’t own their houses outright yet, but you’d think home equity plus 401k gets most people in their 40s above that number.
Posted on 10/15/21 at 2:05 pm to Oilfieldbiology
quote:
HOW!?!?! If I had 7 figures worth of assets and minimal cash on hand to tend to those physical assets I’d be terrified and couldn’t sleep at night.
Property taxes are cheap. That and road maintenance is paid for with right of ways.
The diesel and gas for mowing gets annoying, but the guys who cut hay handle 95% of it.
And as of yesterday, I have 218 bucks of outgoing debt per month
Posted on 10/15/21 at 2:05 pm to chryso
Probably because student loans and car loans are a negative component in your net worth.
Posted on 10/15/21 at 2:14 pm to USMEagles
quote:
Yeah, those numbers all look really high to me. I suspect some of those age ranges have negative net worth on average.
All numbers look high? Or just the averages?
Because the median numbers are not high. In fact, objectively, they are fricking pathetic.
Posted on 10/15/21 at 2:24 pm to chryso
quote:
Interesting how it goes down from 18-24 to 25-29
Kids are expensive.
Houses are expensive.
Posted on 10/15/21 at 2:27 pm to chryso
quote:probs from student loan debt and more people buying houses they can’t afford
Interesting how it goes down from 18-24 to 25-29.
Posted on 10/15/21 at 2:27 pm to Mootsman
above average in both
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