Interesting Net Worth article

[Malcolm2]

I was surprised that the average net worth numbers were so low. Perhaps I should click through to 'Couples' as mentioned.

The article pushes a site called 'Personal Capital.' They are similar to Mint, and I gave them a try, setting up a basic account without any brokerage or bank info. Within 2-3 days I received a sales call from someone there offering a 'personal consultation' from my 'advisor.'

I was surprised that the article pushed that site and not just more general consolidation tools.

 

[ShokWaveRider]

I thought the loosely defined definitions were loosely accurate. LBYM and No student loans.

See my Sig

 

[hs2inparadise]

I found his 'real estate is the key to net worth' arguments overly simplistic, not practical and generally misleading. He assumes that people would never need/want to move. Also he implies that owning a house=free living without considering maintenance or taxes.

 

[eta2020]

I found his 'real estate is the key to net worth' arguments overly simplistic, not practical and generally misleading. He assumes that people would never need/want to move. Also he implies that owning a house=free living without considering maintenance or taxes.

"Most of us (97 percent) are homeowners. We live in homes currently valued at an average of $320,000. About half of us have occupied the same home for more than twenty years. Thus, we have enjoyed significant increases in the value of our homes."

Thomas J. Stanley "The millionaire next door"

[SIZE=+3][/SIZE]

 

[aim-high]

I was surprised that the average net worth numbers were so low. Perhaps I should click through to 'Couples' as mentioned.

The article pushes a site called 'Personal Capital.' They are similar to Mint, and I gave them a try, setting up a basic account without any brokerage or bank info. Within 2-3 days I received a sales call from someone there offering a 'personal consultation' from my 'advisor.'

I was surprised that the article pushed that site and not just more general consolidation tools.

The article may have pushed the Personal Capital because the author of the article likely gets compensated in some way.

The following disclaimer is on the about page.

"Per FTC guidelines, this website may be compensated by companies mentioned through advertising, affiliate programs or otherwise. Any references to third party products, rates, or websites are subject to change without notice. Please do the appropriate research before participating in any third party offers."

Regarding Personal Capital - I also got a soft sell contact from my "advisor" to use their advisory services. Without even accepting advisor services, the advisor gets access to the information you put in the account - at least the balances.

It's a sad world we live in, but I now go by the assumption, that EVERYONE is trying to make a buck off me unless they can demonstrate otherwise.

 

[palomalou]

What a funny definition of what an above average person is, in that article. I am not only sure that DH and I are not that person, I am more sure I never want to meet one.

Hmm...I thought the "above-average person" sounded like most all of the people who post here.

 

[Keim]

The article for couples makes me chuckle. I doubt the blogger is married with kids, since they seem to think it marriage means being able to nearly double savings.

 

[brett]

Averages are completely meaningless to me. I can't spend averages.

We only care about what financial resources we have and what we require in order to live and do the things that we want to do.

 

[MooreBonds]

It's a sad world we live in, but I now go by the assumption, that EVERYONE is trying to make a buck off me unless they can demonstrate otherwise.

+1 All too true! In the same vein (as I have found out from personal experience), any 'news' media our talk show is also only interested in 1 thing: ratings. Truth be damned - just broadcast whatever sells (ratings) and grabs viewers' attention - and ultimately, increases advertising revenue - irregardless if it's a partial or outright lie.

 

[foxfirev5]

I may have to review my FI status. Maybe I'm not as well off as I thought.
However, just like Lake Wobegon, I feel all of us here are above average.

 

[Meadbh]

Hmm...I thought the "above-average person" sounded like most all of the people who post here.

Well, this is the Lake Wobegon of the Interwebs.......