re: The average 50 year old in the U.S. is now a millionaire.

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Do you understand you keep the equity when you sell a home? Minus transaction costs of course but if net worth is tied up in a home you wont wind up homeless if you sell.

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You don’t say? Wow, I’d have never known you can keep the difference in what you owe.

My point is also that it’s also highly inflated at his time. A lot of people went to bed as millionaires one night in the 80s and woke up bankrupt when interest rates soared to 14%.

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50 year old in the U.S. is now a millionaire.

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just told the wife yesterday we would be thousandaires soon.

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Label those adversely harmed as disgruntled.

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Glassart clearly sounds disgruntled. Try working harder instead of blaming everyone else for your predicament.

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Never acknowledge real world data. Rely solely upon government numbers.

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A large percentage of the macro data available is collected by the government. Are you claiming other entities are collecting data that rival that sort of scope and depth? The BLS, BEA, US Census Bureau, and so on do amazing work. The idea that number crunchers are somehow politically motivated is an irrational fear use primarily to allow people to deny all reality. If everything is fake nothing is real.

I’m not trying to flirt with you so look elsewhere. Good luck. One love.

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It’s really bad out there folks if they are working 24/7 to convince you that you’re rich instead of slipping into the hole.

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The article says right in the first few lines what a lot of us have been saying:

-The average is skewed upwards by people at the top who are very rich
-The median (which is more representative of the typical 50 yo) isn’t close to $1M net worth.

I don’t think this is a situation where libs in academia are out to get you.

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Maybe, but there isn’t a Mark Zuckerberg per 100,000 Americans. In fact there are 20 Americans worth more than 35 billion dollars. If you confiscated all of their wealth and distributed it equally among all Americans each American would get $4,439. If you confiscated all the money from every billionaire in America, and distributed it, each American would only get $13,576.

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This is only those in the age range of 50-59, for which there are multiple billionaires.

There are approximately 40 million Americans between the ages of 50 and 59.

6 of the top 25 billionaires are are in their 50s, including the top 2 (Musk and Bezos).

That doesn’t even include those outside the top 25 or those who are multi-millionaires, but not billionaires.

The numbers are heavily skewed by the mega-wealthy.

That age is generally considered the point where individuals have largely amassed their wealth.

The median shows that, no, the every day 50 year old is not a millionaire.

Clickbait propaganda.

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I don’t think this is a situation where libs in academia are out to get you.

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It absolutely is a situation where progressive “journalists” are attempting to skew public opinion through propaganda.

Otherwise, the title wouldn’t have been “the average 50 year old is now a millionaire”.

It would have been “the median 50 year old is worth…”

Everyone knows that no one reads beyond the title.

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It absolutely is a situation where progressive “journalists” are attempting to skew public opinion through propaganda.

Otherwise, the title wouldn’t have been “the average 50 year old is now a millionaire”.

It would have been “the median 50 year old is worth…”

Everyone knows that no one reads beyond the title.

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I agree with you and Mike da Tigah that it is definitely clickbait, but it’s also factually correct. The average for 50 year olds is a million. If they had lied or misrepresented something (like saying “the typical 50 year old is a millionaire”) then I’d absolutely agree with you.

At the risk of sounding like I’m “defending libs” or some nonsense, I just don’t see propaganda or an agenda here other than the fact they want people to read it…which is true for everyone who writes anything.

You should be a "cash" millionaire in your 50s. If you contributed to a 401k since age 30 and just kept it invested in index funds.

Really? What did I miss?