Posted on 12/30/2023 7:42:57 PM PST by SeekAndFind
Age range 70-74 Average net worth: $1,714,085 Median net worth: $433,100
That makes no sense at all.
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The difference lies in the number of savers in each saver group. There are many more savers in the low-worth group than the high-worth group. A weighted average would have been most representative of net worth, but readers would have understood that even less.
Weighted average explanation:
https://en.wikipedia.org/wiki/Weighted_arithmetic_mean
Pretty much hit it square on
A true asset should have some sort of liquidity. You can cash out an IRA or a CD. You can sell your home, car, gold, etc. You cannot sell your Social Security.
“House rich, cash poor.”
in the west, it can also be: land rich, cash poor; or water rich, cash poor (when lots of irrigation water is owned) ...
I was about “average” u til the kung flu scam shut downs. That wiped my business out. Now thanks to the chomo in Chief it will not recover anytime soon.
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