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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 11:48 am to Aubie Spr96
Posted on 10/24/23 at 11:48 am to Aubie Spr96
quote:frick that.
Everyone should take a Peace Corp tour.
I ain't sending a well-behaved daughter to the third world.
There's enough third world situations domestically to shock a misbehaving kid into reality.
Parents have to tough love kids.
1
Posted on 10/24/23 at 11:51 am to TigerintheNO
it means most of us are below average...
Posted on 10/24/23 at 11:52 am to thelawnwranglers
quote:The OP and the article dont reference median, they reference mean.
Average isn't median lol
And that just goes to show just how filthy rich the top 1% are.
Posted on 10/24/23 at 11:54 am to jizzle6609
quote:
House value may have gone up (according the bank) but with the interest rates and increase in consumable prices people cannot afford that expensive house therefore you cant sell it.
Plus you need to replace your house so the increase in value is useless.
Posted on 10/24/23 at 12:11 pm to Hopeful Doc
quote:
A doc just out of residency will be making $200K-400K and be worth -$200K. Are they “rich” or “poor?”
They are poor, but many spend like they are rich.
Posted on 10/24/23 at 12:13 pm to lsupride87
quote:
This is a clear case to use the median
God forbid they use mode, which would probably be <$10k.
Posted on 10/24/23 at 12:43 pm to TigerintheNO
Take the top 1% out of the base and that number likely goes way down. Which is another way of saying that the median is way lower than the mean.
This post was edited on 10/24/23 at 1:29 pm
Posted on 10/24/23 at 12:47 pm to TigerintheNO
Muhh 3/2 shithole is werth like 500k yo.
CFT
CFT
This post was edited on 10/24/23 at 12:49 pm
Posted on 10/24/23 at 1:10 pm to jizzle6609
quote:
Top five millioniare jobs will shock you.
Dave Ramsey always cites this, but I think part of it is that those are very common jobs (whereas being a physician isn't).
Posted on 10/24/23 at 3:14 pm to lsupride87
quote:If you combine my net worth with Elon Musk, both Elon and I average about $110 billion.
Using average here is dumb. Because a number like 50 billion really skews things
I'm doing ok for myself!!
Posted on 10/24/23 at 3:17 pm to TigerintheNO
Bidenomics pimping the average wealth numbers to justify....something.
Posted on 10/24/23 at 3:23 pm to TigerintheNO
And today we learn the difference between average and median.
Posted on 10/24/23 at 3:49 pm to SDVTiger
quote:
Better cash out before it plummetts if you believe in that
Cash out? And do what with the cash? Watch it depreciate?
Posted on 10/24/23 at 3:54 pm to TigerintheNO
How someone wrote an article and “analyzed” things with conclusions based on mean is puzzling.
Posted on 10/24/23 at 3:58 pm to LSUFanHouston
quote:
And today we learn the difference between average and median.
Considering that basically half the country doesn’t do anything. I am pretty impressed with a median household of nearly $200k. I also came across this site showing percentile breakdowns from the same data.
1 in 3 people are part of a $400k+ household.
Nearly 1 in 5 people are part of a millionaire household.
Impressive numbers tbh.
Posted on 10/24/23 at 4:16 pm to soccerfüt
If one person has 100,000 dollars, and 9 people have a dollar, the average amount each person has is 10,000 and 90 cents. But it doesn’t make the 9 out of 10 who have a dollar feel any better about their dollar.
Posted on 10/24/23 at 4:20 pm to TigerintheNO
Their formula is trash and creates a very misleading outlook of optimism.
This post was edited on 10/24/23 at 4:22 pm
Posted on 10/24/23 at 4:27 pm to Snipe
quote:
The average American household has over a million dollars in wealth
If you own your own home, have a well funded 401k, have additional liquid investments, and a regular income, $1M net worth isn’t difficult to have at age 50.
Posted on 10/24/23 at 5:29 pm to TigerintheNO
The average person has one testicle.
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