Net Worth Averages

[imoldernu]

While I'm sure this has been linked many times, I thought it might be interesting to see how our net worth compares to the average of people our age. Mean, Median, Quintiles, Household, Single, Male, Female.

Data from 2013, but a good basis for equivalency.

More than you need to know, but a picture of financial net worth in America.

https://wallethacks.com/average-net-worth-by-age-americans/

 

[Spock]

No point in reading past "I use median and average interchangeably. I recognize the two are not the same but for most people, they want to know the median even if they ask for the average. We always, technically, mean median even when we use the word average."
From there on you can't trust what any of the numbers actually mean (no pun intended).

 

[imoldernu]

No point in reading past "I use median and average interchangeably. I recognize the two are not the same but for most people, they want to know the median even if they ask for the average. We always, technically, mean median even when we use the word average."
From there on you can't trust what any of the numbers actually mean (no pun intended).

I wonder if you might have read a little bit more...

 

[MichaelB]

No point in reading past "I use median and average interchangeably. I recognize the two are not the same but for most people, they want to know the median even if they ask for the average. We always, technically, mean median even when we use the word average."
From there on you can't trust what any of the numbers actually mean (no pun intended).

Yeah, I got that far and had a similar reaction. I went on, just to see. Lots of census data on income and wealth.

 

[SumDay]

Interesting stuff. Thanks for sharing.

All I can say is: I'm blessed.

 

[Koogie]

"Net Worth Averages"

IIRC, my net worth was:
- in the 1% for my demographic in my country
- average for this board
- poverty level on Bogleheads

 

[Dtail]

Still doing ok I guess. lol

 

[ERD50]

I wonder if you might have read a little bit more...

I'll pass as well. The other thing these miss is the value of pensions. With a big pension your net worth could be whatever you need to get to the next monthly pension payment, and you could be living like royalty. But someone w/o pension/SS and $1M would be considered better off?

Now, if I'm wrong about that, I'll take a look.

-ERD50

 

[Spock]

I'll pass as well. The other thing these miss is the value of pensions. With a big pension your net worth could be whatever you need to get to the next monthly pension payment, and you could be living like royalty. But someone w/o pension/SS and $1M would be considered better off?

Now, if I'm wrong about that, I'll take a look.

-ERD50

I was reading where the politicians were mis-quoting the CBO's stat on "50% of americans have ZERO retirement savings!" in that the caveats on the stat were just as you mention... they excluded everybody with a pension.

 

[MarieIG]

I was reading where the politicians were mis-quoting the CBO's stat on "50% of americans have ZERO retirement savings!" in that the caveats on the stat were just as you mention... they excluded everybody with a pension.

Yeah, I read that too. I was thinking about posting the link, and then decided against it. Of course, I can't find it now.

 

[Perryinva]

Yawn. More click bait. Nothing useful.

 

[robnplunder]

Yawn. More click bait. Nothing useful.

+1.