grumpy
Thinks s/he gets paid by the post
- Joined
- Jul 1, 2004
- Messages
- 1,321
Jonathan Clements has an article in today WSJ with the following statistic:
Don't get me wrong: I am not claiming $1 million isn't a huge sum.
Indeed, it's beyond the wildest dreams of most Americans. Take households headed by someone 55 to 64 years old, which is America's wealthiest age group. Even for these folks, who are on the cusp of retirement, the median household net worth -- including home equity -- is under $250,000, according to the Federal Reserve's 2004 Survey of Consumer Finances.
No wonder we retirees are in the minority!
Grumpy
Don't get me wrong: I am not claiming $1 million isn't a huge sum.
Indeed, it's beyond the wildest dreams of most Americans. Take households headed by someone 55 to 64 years old, which is America's wealthiest age group. Even for these folks, who are on the cusp of retirement, the median household net worth -- including home equity -- is under $250,000, according to the Federal Reserve's 2004 Survey of Consumer Finances.
No wonder we retirees are in the minority!
Grumpy