Net Worth... average median mean

[nash031]

Man, I'm never going to be in the 1%. I'll just have to settle for the 2-4%.

 

[Helena]

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I've never seen a million. However, being single and living in a less expensive part of the country, I was able to retire comfortably at age 55. And with my nest egg still growing, I might see a million yet.

A single co-worker friend always made more money than I. But while I was living debt-free below my means and saving the rest... she had to have the best of everything and had lots of debt. At age 70. she too retired for health reasons. But her lavish spenidng habits did not change. Recently she had to declare bankruptcy.

.

 

[street]

Not to take away from this thread but here is a tool for what percentile you are in. It seem to put you higher then what charts and data shows. What is your experience using this tool below? Thanks
Net Worth | Calculate your Net Worth

 

[Calico]

Thank you.

It appears we need a new ‘geographically insulting’ description for those “...government subsidy folks that live off the government teet...”

https://archive.nytimes.com/www.nytimes.com/interactive/2012/02/12/us/entitlement-map.html?_r=0

Perhaps, “Flyover Freeloader” or “Pastoral Parasite”.

You beat me to it.

 

[MarieIG]

As the subject has begun to touch on those living on government largess, the solution for this has been obvious for centuries.

May I suggest this fairly short read to those not already familiar with the simplest resolution of the problem. Written in 1729

https://www.gutenberg.org/files/1080/1080-h/1080-h.htm

Well, that is good for some nightmares.

 

[Surewhitey]

We're living on half DW's salary (after tax) all in, including vacations. I'm in the camp of 25-30x expenses and if you stop earning / passive income over $30-40k, get on ACA and spend $40k or less (we do) annually, then you can at minimum do what you really want to do from there.
We're at the $40-50k passive point with no debt. DW isn't a believer yet... As she is "working" in Florida for a few days this week.

 

[ExFlyBoy5]

As the subject has begun to touch on those living on government largess, the solution for this has been obvious for centuries.



May I suggest this fairly short read to those not already familiar with the simplest resolution of the problem. Written in 1729



https://www.gutenberg.org/files/1080/1080-h/1080-h.htm

Interesting "proposal"...

 

[lakehawk]

Net Worth

https://www.shnugi.com/networth-percentile-calculator/?min_age=0&max_age=0&networth=0#results

This site gives you an idea where your household stands in terms of net worth.
Include your assets (cash, investments, realistic home value, current vehicle value, etc.), then subtract your debts (mortgage, loans, etc.). Keep in mind that you may have to pay taxes on your qualified retirement plans (401K, IRA, etc.) when you withdraw from them, so they may not be worth what is shows in your statement after tax.

Put the ages of you and your spouse, along with the net worth you have computed and you will get an idea of where you stand in the country.

 

[Bongleur]

As the subject has begun to touch on those living on government largess, the solution for this has been obvious for centuries.

May I suggest this fairly short read to those not already familiar with the simplest resolution of the problem. Written in 1729

https://www.gutenberg.org/files/1080/1080-h/1080-h.htm

TLDR. What is the actual proposal? I wasted 5 minutes of my precious life scanning his hyperbole & apologia.

 

[GravitySucks]

TLDR. What is the actual proposal? I wasted 5 minutes of my precious life scanning his hyperbole & apologia.

That the children of the poor of Ireland would be a tasty food source.

 

[Nick12]

.

I've never seen a million. However, being single and living in a less expensive part of the country, I was able to retire comfortably at age 55. And with my nest egg still growing, I might see a million yet.

A single co-worker friend always made more money than I. But while I was living debt-free below my means and saving the rest... she had to have the best of everything and had lots of debt. At age 70. she too retired for health reasons. But her lavish spenidng habits did not change. Recently she had to declare bankruptcy.

.

I have lost track on so many people who have declared bankruptcy and moved to Florida to start anew.

 

[Archman]

]

A curve with the median being a LOT lower than the mean would be a bell-shaped curve shifted to the left (with a small or no tail on the left) and a long, perhaps bumpy tail extending to the right. Imagine a ski jump going from left to right with the high, starting point on the left with the far lower point on the right.

Here is an example of such a curve if income distribution.

 

[ckelly78z]

I have lost track on so many people who have declared bankruptcy and moved to Florida to start anew.

Wow, may we all avoid this in our lives. Far too many souls believe in "live for today" in this society.