According to the article, that's the median net worth, not the average. The average is over a million.
-PJ
I understand. The average is pushed up by a few with LOTS of assets.
I would argue that MOST people have under $500k in net worth. They are still carrying mortgages and car payments. They still rack up credit card debt. They live on nothing but meager SS.
They are gonna break hips and get cancer, like the rich folks.
They are going to cost the younger generations lots of money.
If most people have the greatest percentage of their net worth in their homes, they will erode that as millions of homes come onto the market.
It’s not going to be pretty. These people better make nice with their kids…because that’s where you are going to live for a while.
Thew median is way more relevant in this analysis