We got it made in the shade ping.
Posted on 01/11/2015 10:06:38 AM PST by expat_panama
We got it made in the shade ping.
The top 1% in wealth is believed to start at about $4 million, but no one knows for sure because wealth does not have to be reported except at death.
The top 5% is thought to start at about $2.7 million or so.
But these numbers are both just guesses. Read more here:
I stopped after “Average”.
Here’s another interesting article I found by following some links:
http://www2.ucsc.edu/whorulesamerica/power/investment_manager.html
If this statistic is true, it means that "averages" have become meaningless. A sensible statistician with no prior agenda would look at quartiles and medians.
JMHO
and nobody could really know for sure anyway; the wife & I were talking about this and merely saying how much the house was worth fogged up the convo beyond all recognition.
Bill Gates walks into a bar.. The average wealth of the patrons and staff becomes well over a billion $.
Until he walks out.
I stopped when I thought it meant I was going to have to count what I have, because that is so depressing.
Meaningless blog post. The meaningful number would be median, upper half and lower half.
Median net worth of US families is less than $100k, and it’s been going down under Obama.
Remember that the $422,000 for stocks and bonds is based upon current values. I think most people will be devastated when it finally becomes apparent that most of the publicly traded corporations have been gutted and have little or no value. Creative accounting, stock buybacks with borrowed money, assets marked to fictitious values, etc. will become to the forefront as people try to cash in for retirement.
When calculating my net worth, I normally do not include non-financial assets. That makes everything a lot simpler.
Unless you own rental property, your real estate is just a place to live and an expense. You can’t very well live without having a place to live, whether you buy it or rent it.
It does count as part of your estate; your heirs will sell it and spend the money!
It depends on how you want to evaluate companies. Standard economic theory says a company is worth the value of its discounted future after-tax cash flows. Of course, there are many gaps in GAAP, but you can’t hide lack of real profits in the long run.
I usually tend to ignore the income statement and look at the cash flow statement.
So its really not what you make but what you keep.
Lol...I got $650...that’s before taxes. Somebody talk to the CEO of my company. We have to increase our productivity in order for him to afford a 6000 square foot garage for his collectable autos.
--the average American household.
You're right though, the word 'average' has it's limits. iow, it screams "FOOD FIGHT!!!". The Fed just posts the totals and here's how it's broken down:
| (billion) | |
| Corporate equities | $12,885 |
| Mutual fund shares | $7,620 |
| Security credit | $893 |
| Life insurance reserves | $1,259 |
| Pension entitlements | $20,499 |
| Equity in noncorporate business | $9,188 |
You can’t take it with you!
And while it was posted in News instead of Bloggers, at least it wasn’t excerpted
The average household has half a million dollars in stocks or business, bonds, or deposits? What planet is he living on?
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