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Started By
Message
re: The average American household has over a million dollars in wealth
Posted on 10/24/23 at 10:15 am to TigerintheNO
Posted on 10/24/23 at 10:15 am to TigerintheNO
quote:
The average American household has over a million dollars in wealth
Thanks.
Just a reminder of one more thing I'm below average in.
1
Posted on 10/24/23 at 10:16 am to theronswanson
Are we positive that Joesph and Magda killed all 7 of their kids?
Posted on 10/24/23 at 10:17 am to TigerintheNO
They probably asked these questions a couple years ago when everyones NFT's were through the roof. I know I was worth $10,000,000 on paper for a few months back then. It's all but gone now.
Posted on 10/24/23 at 10:17 am to TigerintheNO
Apparently being slightly above average in something is actually a good thing
Posted on 10/24/23 at 10:18 am to TigerintheNO
Huge wealth gap. 10 percent are wealthy. 50 percent struggling to get by
Posted on 10/24/23 at 10:18 am to TigerintheNO
"Even when looking at the median—another measure of the average, which represents the midpoint in the ranking and is less likely to be skewed by exceptionally high or low numbers—the typical American household was worth $192,900."
The Mean/Average is skewed way higher by the OT Ballers
The Mean/Average is skewed way higher by the OT Ballers
Posted on 10/24/23 at 10:22 am to TigerintheNO
quote:
the typical American household was worth $192,900
All that 1 million figure means is we are a top heavy society that is going to collapse on itself soon.
This post was edited on 10/24/23 at 10:23 am
Posted on 10/24/23 at 10:24 am to TigerintheNO
quote:
To be precise, the mean net worth of an American household, adjusted for inflation, was $1.06 million in 2022
quote:
2019 the mean net worth of an average household was $868,000, marking a 23% jump.
Inflation = 23%
There is no jump.
Posted on 10/24/23 at 10:24 am to theronswanson
quote:
To be precise, the mean net worth of an American household, adjusted for inflation, was $1.06 million in 2022, according to the Federal Reserve's consumer finance survey.
Well frick me I must be doing something very wrong
quote:
Even when looking at the median—another measure of the average, which represents the midpoint in the ranking and is less likely to be skewed by exceptionally high or low numbers—the typical American household was worth $192,900.
Ah, now I feel better
Posted on 10/24/23 at 10:25 am to TigerintheNO
The average between a billionaire and a broke person is hundreds of millions.
Average mean nothing when extremes are involved.
Average mean nothing when extremes are involved.
Posted on 10/24/23 at 10:27 am to Supermoto Tiger
quote:
Inflation = 23%
There is no jump.
Right. Few made real gains, inflation ate those up.
Posted on 10/24/23 at 10:31 am to lsupride87
quote:
Using average here is dumb.
Yeah, average is only of marginal value in these analyses.
Posted on 10/24/23 at 10:33 am to TigerintheNO
quote:
The average American household has over a million dollars in wealth
More interested in median. Way too many insane outliers here that swing things upward.
This post was edited on 10/24/23 at 10:38 am
Posted on 10/24/23 at 10:35 am to lsupride87
quote:
Median American net worth is $192,000. Quite the difference eh?
Is this all in with 401Ks and everything? Because that still seems high considering how much debt most people carry.
Posted on 10/24/23 at 10:37 am to TigerintheNO
Debt =/= Wealth
Posted on 10/24/23 at 10:39 am to stout
quote:
Is this all in with 401Ks and everything? Because that still seems high considering how much debt most people carry.
There are a shite load of boomers with a lot of real estate and retirement wealth. So....it's possible.
Most people my age don't have a lot of equity in their homes yet - and their retirement savings are still building.
Posted on 10/24/23 at 10:41 am to TigerintheNO
What a ridiculous article and headline. About what I’d expect from Yahoo.
Posted on 10/24/23 at 10:48 am to SloaneRanger
This thread is giving me flashbacks to mean, median, and mode assignments in school. Should we look at a bell curve while ignoring entries more than one standard deviation away or whatever?
Posted on 10/24/23 at 10:51 am to Warfox
quote:
A Million dollars today is not at all the same as a million dollars 20 years ago.
It was not the same as 4 years ago.
Posted on 10/24/23 at 10:54 am to SippyCup
quote:
A Million dollars today is not at all the same as a million dollars 20 years ago.
It was not the same as 4 years ago.
I knew over thirty years ago that a million bucks wouldn't be shite when I get ready to retire
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