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Old 01-19-2021, 04:41 PM   #161
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Is this total household net worth (married couple) or individual?
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Old 01-19-2021, 05:12 PM   #162
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Is this total household net worth (married couple) or individual?
Net worth stats are invariably household. The census data certainly is.
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Old 01-19-2021, 05:39 PM   #163
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Hard to believe 1 in 50 have that much net worth.
If you have a paid-for home in California or Hawaii you’re halfway there lol.
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Old 01-19-2021, 06:12 PM   #164
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Apologies if this has already been stated, but you get a whole other perspective on a world level. Here is a site to check your standing globally:

https://web.archive.org/web/20191229...ist.com/wealth

Like I have told my kids and a few employees - the difference between feeling blessed or distressed is who you choose to keep company with.
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Old 01-19-2021, 08:42 PM   #165
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Mine was the Opel Manta Rally. (It was also a 1900 cc)



IIRC the car with the 1900 moniker (NOT Manta Rally) was the same basic drive train (but with a higher gearing in the differential.) The 1900 had the more traditional "boxy" design (more practical). Also IIRC SCCA had a class of "stock" racing in which the "boxy" 1900 qualified. Since the races were claiming races, no one worked TOO hard to be TOO good (IOW, you always cheated "fair" as the NASCAR boys used to say.) I could be wrong on all this, but mine looked like this:



https://germancarsforsaleblog.com/19...-manta-rallye/


You are correct about the 1900 vs Manta model designation for later years but In 72 the coupe was actually designated as 1900 Sport Coupe and Manta came later (per Wikipedia). Both cars I owned were the Manta body style but not the sporty Rally version which had higher numerical gearing for better acceleration. My brother had a Rallye. We had 5 Mantas including extended family. Really fun cars to drive. Sorry for the hijack!
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Old 01-20-2021, 01:40 AM   #166
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I have never understood the fascination about where one stands vis a vis others in the wealth game.

We only care about us. How much we need, how much we have, and what we want to do with our resources.

We could care less if we are in the top 1 percent, 2 percent, whatever. Does not make us feel good or bad.

Don't see the point of bothering with it, let alone what assets or annuitized cash flows to include in the number.
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Old 01-20-2021, 06:38 AM   #167
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That is my thought as well. I would be interested to see this data excluding the value of the primary residence. I also wonder about the distribution of these households given that the home value is included. Perhaps many of them are located in areas with very high property values? It's difficult to believe that in a room of 100 people (different households) in my Midwest city, that two of them are worth more than $6Million with one of those having an 8 figure portfolio. But then again, I don't want to argue with the numbers.

On the other hand, since nearly 12% of us are millionaires, the odds are good that you are in fact living next door to one!
Well, they or not evenly dispersed throughout the country. Concentrated on the coasts where you have higher home values generally and more tech millionaires.
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Old 01-20-2021, 06:46 AM   #168
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I have never understood the fascination about where one stands vis a vis others in the wealth game.
For some people it's a way of keeping score. For others, it's verification of their belief that some people have "too much".

I never earned enough to get anywhere near the top 1% but I don't begrudge anyone who was that successful. I know people in business that did well and have attracted some envy but those people were never there when they were working 80 hours a week and thankful that their spouse worked so that they could buy groceries and pay the utilities.

The envious only show up after all the years of hard work when success has been attained.
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Old 01-20-2021, 09:15 AM   #169
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I think these are a good reminder of just how good many of us have it. After a few unexpectedly good years, we fall into one of those higher brackets, but I will never forget the feeling of having $20 left to make it a week to the next paycheck, or having a car that I used to sit in and pray for it to start so I wasn’t late for work. I’m just thankful I was young, healthy and child free when I was broke.

Understanding that you’re in the top X%, even if it doesn’t feel like it, is a good reminder to give back.
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Old 01-20-2021, 09:55 AM   #170
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I have never understood the fascination about where one stands vis a vis others in the wealth game.
For me, it's just a measure of financial security. I don't look at it as a game or a race, or any kind of measure of human value. I just figure the further up the ranks I am, the less likely I am to run into some kind of hurdle that would leave me destitute. And I'm better able to ride out the peaks and valleys that come with financial boom-bust cycles.

But I never looked at is as "Oh, I'm better than this person", "that person is better than me" etc. It's just one of those numbers that I look at it and think, "Oh, cool" and then move on with my life.

Actually, one of my more common thoughts tends to be "Meh, somehow I thought it would be more exciting". Anyway, as long as I'm financially comfortable, I don't care where I fall, percentile-wise. I'm just shooting for a certain comfort level, not a specific percentile.
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Old 01-20-2021, 12:03 PM   #171
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Originally Posted by Music Lover View Post
...The envious only show up after all the years of hard work when success has been attained.
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Originally Posted by tb001 View Post
.... but I will never forget the feeling of having $20 left to make it a week to the next paycheck, or having a car that I used to sit in and pray for it to start so I wasn’t late for work. I’m just thankful I was young, healthy and child free when I was broke.
...
People look now and might think, I'm so lucky.

Those same people never saw, me:
  • Apply for jobs like cigarette salesman, even though I didn't smoke.
  • Freezing by when taking the bus in Winter snow for 1.5 hours each way to and from work as I didn't have a car.
  • Ask my boss if I could sleep at work for 6 months so I didn't have to rent a place.
  • Live with my cardboard box coffee table and air mattress couch.
  • Take a job across the country for 6 months.
  • Live in my car.
  • Buy my clothes and kitchen stuff at Sally Ann because my life was improving.
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Old 01-20-2021, 12:20 PM   #172
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If you have a paid-for home in California or Hawaii you’re halfway there lol.
Not after the Federal capital gains tax plus NIIT plus California income tax hits them.
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Old 01-20-2021, 12:32 PM   #173
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People look now and might think, I'm so lucky.

Those same people never saw, me:
  • Apply for jobs like cigarette salesman, even though I didn't smoke.
  • Freezing by when taking the bus in Winter snow for 1.5 hours each way to and from work as I didn't have a car.
  • Ask my boss if I could sleep at work for 6 months so I didn't have to rent a place.
  • Live with my cardboard box coffee table and air mattress couch.
  • Take a job across the country for 6 months.
  • Live in my car.
  • Buy my clothes and kitchen stuff at Sally Ann because my life was improving.
Ah, the "good" old days. Here is my list:
* Hearing gunshots around me as I walked to the downtown train station for working a night shift to a gas station.
* Mugged on the road and robbed in the store.
* Almost died trying to catch a train to work so I don't have to wait for an hour in cold weather.
* Upgrading my furnishings from the (real) dump.
* Walking, bus, shuttles and trains to everywhere.
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Old 01-20-2021, 12:42 PM   #174
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I think these are a good reminder of just how good many of us have it. After a few unexpectedly good years, we fall into one of those higher brackets, but I will never forget the feeling of having $20 left to make it a week to the next paycheck, or having a car that I used to sit in and pray for it to start so I wasn’t late for work. I’m just thankful I was young, healthy and child free when I was broke.

Understanding that you’re in the top X%, even if it doesn’t feel like it, is a good reminder to give back.
Ohhhh so true !

Threads like these are a measuring stick and I like to see where I was and where I stand now with others. It really doesn't matter if in top 10% or 1% it is a gauge for me to see where I am at, for me and me only.

A great thread and everyone should be very proud of where they stack up percentage wise.
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Old 01-20-2021, 12:54 PM   #175
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Agreed, there is always going to some with more, some with less, some just trying to live and get by, some going broke keeping up with Jones with the biggest house, most expensive cars, most expensive toys and some just barely getting by. In the end it only matters how you are with your own family. Life is not supposed to be a race to see who can accumulate the most. My Dad (now long ago deceased) (2009) often said, "he never saw a moving van behind the hearse on the way to the graveyard." I don't worry about it at all, every one has to start somewhere and I am likely in the lower % but climbing and saving as well as we can given out budget and income. albeit kind of a late start but it's a start.
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Old 01-20-2021, 01:08 PM   #176
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I take the view that the measure of my/our financial security has zero to do with how many people have more financial resources or how many have fewer financial resources that I have have.

It is all about me, not them, when it comes down to how financially secure I am given my lifestyle. Pride does not even come into this equation for us.
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Old 01-20-2021, 01:54 PM   #177
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We all have choices to open a thread or not to open a thread, if it is something we are interested in or not interested in.
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Old 01-20-2021, 04:40 PM   #178
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I take the view that the measure of my/our financial security has zero to do with how many people have more financial resources or how many have fewer financial resources that I have have. ...
I take a peek at threads like this to gauge (unsuccessfully) how detached from reality I might be (if at all). A classic example of being detached from reality is when the newly-on-a-budget Queen of Versailles asked the supremely bored clerk at a rental car counter whether her rental car came with a driver .

Is financial insecurity the most common state for most Americans? If so, whose fault is this and what should be done about it (if anything). These questions rapidly become political and are thus beyond the scope of this website.
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Old 01-20-2021, 04:59 PM   #179
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Threads like this can have a profound societal impact. As an example, a list of 1%'s came in very handy during the French revolution.
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Old 01-20-2021, 07:14 PM   #180
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I have never understood the fascination about where one stands vis a vis others in the wealth game.

We only care about us. How much we need, how much we have, and what we want to do with our resources.

We could care less if we are in the top 1 percent, 2 percent, whatever. Does not make us feel good or bad.

Don't see the point of bothering with it, let alone what assets or annuitized cash flows to include in the number.
There is one person I constantly compare myself to and want to reach with regards to level of wealth- my future happily retired self. That is the benchmark I gauge myself.
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