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Old 01-26-2015, 08:01 AM
 
2,303 posts, read 2,258,556 times
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So, I found this article today, and I'm curious if it sounds reasonable to most other people.

The Typical American's Net Worth By Age: Here's Where You Stand

I could be wrong, but it seems like the "average" they've stated is extremely low. Do most people at 30 really have only $6k net worth? Has a lifetime of savings for a person at 65 really only averaged out to $170k?

These numbers just seem really low.
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Old 01-26-2015, 08:09 AM
 
189 posts, read 262,783 times
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not an average it is the medium

i have to say that is a sad state of american worth and ability to save
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Old 01-26-2015, 08:30 AM
 
Location: southwestern PA
20,419 posts, read 37,636,044 times
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Quote:
Originally Posted by unknownuser123 View Post
not an average it is the medium
Actually, it is median American's net worth.
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Old 01-26-2015, 08:37 AM
 
18,853 posts, read 13,601,877 times
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That doesn't surprise me at all
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Old 01-26-2015, 08:52 AM
 
12,705 posts, read 9,967,478 times
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Quote:
Originally Posted by Jeo123 View Post
So, I found this article today, and I'm curious if it sounds reasonable to most other people.

The Typical American's Net Worth By Age: Here's Where You Stand

I could be wrong, but it seems like the "average" they've stated is extremely low. Do most people at 30 really have only $6k net worth? Has a lifetime of savings for a person at 65 really only averaged out to $170k?

These numbers just seem really low.
From many of your previous posts, especially when it comes to how to deal with high interest debt, I must say, you are slightly out of touch with reality when it comes to how undisciplined your average Joe/Jane turns out to be.

It is unfortunate, but the fact of the matter is that a large fraction of Americans are living paycheck to paycheck and have no money at the end of the month.
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Old 01-26-2015, 08:55 AM
 
3,673 posts, read 4,933,706 times
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As someone noted it before, this is the MEDIAN....not the average.....(two very different numbers).

The median numbers you see simply say that half the folks in that age group have more, and half have less than the stated amount. so for example, half of those 65 years old, have more than 170k and half have less than 170k.
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Old 01-26-2015, 09:13 AM
 
Location: Los Angeles
12,170 posts, read 10,349,101 times
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If you go by City-Data numbers, we would have an average of $1.2 million by age 30. We are ahead of the curve.
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Old 01-26-2015, 09:21 AM
 
10,630 posts, read 23,412,818 times
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Quote:
Originally Posted by Jeo123 View Post
So, I found this article today, and I'm curious if it sounds reasonable to most other people.

The Typical American's Net Worth By Age: Here's Where You Stand

I could be wrong, but it seems like the "average" they've stated is extremely low. Do most people at 30 really have only $6k net worth? Has a lifetime of savings for a person at 65 really only averaged out to $170k?

These numbers just seem really low.
The numbers for the oldest groups seem surprisingly low, but the numbers for the younger people doesn't surprise me -- after all, many people in their 20s have student loans, and lots of people in their 30s have just purchased homes and still have hefty mortgages. I'm in my 30s and while I wish we were farther ahead, our financial situation sounds worse than it is because we have a new mortgage and very little equity.
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Old 01-26-2015, 09:21 AM
 
189 posts, read 262,783 times
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Quote:
Originally Posted by Pitt Chick View Post
Actually, it is median American's net worth.
I really get tired of this fourm and posting like you.

thanks for pointing out the auto type typo. if it wasnt for you no one would have an idea what i was trying to say
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Old 01-26-2015, 09:22 AM
 
Location: Portal to the Pacific
5,143 posts, read 5,093,318 times
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Quote:
Originally Posted by Mr_Geek View Post
If you go by City-Data numbers, we would have an average of $1.2 million by age 30. We are ahead of the curve.
LOL It certainly feels that way around here. It's cool though... it keeps me on the right track!
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