The Average Household Net Worth In America Is Huge Another Net Worth calculation diced up a bit more (with and without HOUSE). Data comes from the 2016 Federal Reserve SCF.
https://dqydj.com/net-worth-by-age-calculator-united-states/Age Average Median Average (No H) Median (No H)18-24 $93,982.80 $4,394.
53 $86,9
52.2
5 $4,012.26
2
5-29 $39,
56
5.88 $8,971.
58 $16,941.07 $4,397.11
30-34 $9
5,23
5.
53 $29,12
5.08 $
58,702.34 $1
5,980.13
3
5-39 $2
57,
581.86 $40,666.
52 $202,97
5.63 $17,247.23
40-44 $316,660.61 $87,842.71 $231,092.29 $36,392.69
4
5-49 $
599,194.17 $10
5,717.43 $4
59,091.
51 $
50,462.
52
50-
54 $838,702.9
5 $137,866.81 $701,
558.76 $
50,1
54.48
55-
59 $1,1
50,037.78 $168,044.19 $979,492.18 $69,338.6
560-64 $1,180,377.62 $224,77
5.17 $98
5,790.
54 $10
5,87
5.74
6
5-69 $1,0
56,483.97 $209,
57
5.26 $871,948.49 $94,66
5.4
570-74 $1,062,427.63 $233,614.37 $861,02
5.60 $77,472.
59
7
5-79 $1,097,41
5.06 $242,699.7
5 $887,0
51.06 $69,
551.
59
80+ $1,039,818.04 $270,904.40 $826,304.4
5 $121,
563.27
The Average Household Net Worth In America Is Huge Anna- Actually their average net worth seems way too low. Medina has a population of around 3,000. Just bezos and Gates alone have a net worth over $200 Billion. So the "average net" worth of Medina is at least $60 million. Of course the median is much lower.
I wonder what the average net worth is in Medina, Washington? Both Jeff Bezos and Bill Gates live there?
The first hit on Google "median net worth Medina Washington gave:
https://www.point2homes.com/US/Neighborhood/WA/Medina-Demographics.htmlAverage Household Income $280,4
51
Median Household Income $188,080
Percent Increase/Decrease in Income Since 2000 40%
Percent Increase/Decrease in Income Since 2010 39%
Average Household Net Worth $1,267,004
Median Home Sale Price $1,480,000
Sales Tax Rate 8.6%
Average Household Total Expenditure $1
59,918
The Average Household Net Worth In America Is Huge I didn't read the article, but I'm assuming net worth includes all assets, your house, which actually would make the liquid assets like savings pretty low for the "median" house hold.
(
@MikeM - I tried not to mention Michigan because I gathered someone here is tired of hearing about it.) Yes, net worth includes all assets, including house, but also subtracts all debt before arriving at a number. That explains why 7
5+ year olds might score highest. I’d guess a higher percentage have their homes paid off.
It’s hard to look at these figures without getting a bit cynical. Walk very far through America and you’ll get a perspective. Multitudes on multitudes live in extremely small and humble abodes - often densely packed tract houses or manufactured homes. If you don’t want to walk, look out the window as your jet approaches any airport (less expensive housing flourishes near the flight paths) - or ride a bus into Manhattan from LGA and gaze at some of the neighborhoods you traverse.
I realize there aren’t many Jeff Bézoses on the board. But I’m willing to bet this is a fairly affluent group here and that might distort somewhat our impression of how “average” Americans live. It’s paradoxical, but the
average American does not enjoy a standard of living anywhere near what those average net-worth figures represent.
Bank Of America Clamps Down On Penny Stocks With Purchase Ban
The Average Household Net Worth In America Is Huge I wonder what the average net worth is in Medina, Washington? Both Jeff Bezos and Bill Gates live there?
The first hit on Google "median net worth Medina Washington gave:
https://www.point2homes.com/US/Neighborhood/WA/Medina-Demographics.htmlAverage Household Income $280,4
51
Median Household Income $188,080
Percent Increase/Decrease in Income Since 2000 40%
Percent Increase/Decrease in Income Since 2010 39%
Average Household Net Worth $1,267,004
Median Home Sale Price $1,480,000
Sales Tax Rate 8.6%
Average Household Total Expenditure $1
59,918
The Average Household Net Worth In America Is Huge So the average U.S. household (over age 75) has a net worth in excess of one million dollars? Umm ... Not where I live.
No
@hank, but where you live, the median value of $26
5,000 is probably pretty realistic. Average skews the data towards the high side because of the very rich.
I didn't read the article, but I'm assuming net worth includes all assets, your house, which actually would make the liquid assets like savings pretty low for the "median" house hold.
The Average Household Net Worth In America Is Huge But what does household mean? It's not the term used in the source of these numbers. That source (Fed Reserve Board) uses the term "family", not "household". It goes on to note that its "family" is similar to, but not the same as, the Census Bureau's "household".
Moving on, what does "over age 7
5" mean for a "family" or a "household" here? Does everyone in the household (whatever that is) have to be over 7
5? Just one person? Which one?
https://www.federalreserve.gov/publications/files/scf17.pdf(See Box 1 and Appendix for definitions)
Most of the data one is likely to run across elsewhere comes from the Census Bureau. So figures here are going to look a bit different. Thus it helps to be cognizant of the various definitions.
I think Hank conveyed a good sense of average. If his regional averages are lower than national averages, then regional averages
elsewhere must be higher, as he suggested. Still, what exactly is being averaged?
Lewis Braham: 7 Real Estate Stocks To Ride A Retail Comeback: (MGLAX)
The Average Household Net Worth In America Is Huge Another topic that helps explain averages is the proposed repeal of the SALT tax deduction.
This is being proposed by democrats and its repeal would benefit the top 20% who pay taxes (a repeal of SALT would benefit 96% of these high earners) .
Here's how averages work:
Repealing the SALT deduction would cut taxes by an average of about $370, but that’s largely because so many households would get no benefit at all. Among all those whose taxes are reduced, the average tax cut would be about $4,100. For all middle-income taxpayers, the average tax cut would be $10. Those in the top 1% would pay an average of $31,000, or 2% of after-tax income, less. Among those who get a tax cut, middle-income households would pay an average of $360 less while those in the top 1% would pay an average of about $34,000 less.
Here's a visual:
Now There’s Another Land Mine For Junk-Bond Investors FYI: Creative accounting: It’s not just for Silicon Valley start-ups anymore.
The trend has made its way into leveraged finance, which is notable because bond investors usually couldn’t care less about a company’s story—they just want to know whether it will be able to pay them back. One metric that is widely used to evaluate a borrower’s ability to make debt payments is the ratio of its debt to Ebitda, or earnings before interest, tax, depreciation, and amortization.
Regards,
Ted
https://www.barrons.com/articles/ebitda-junk-bonds-1538087064
The Average Household Net Worth In America Is Huge So the average U.S. household (over age 75) has a net worth in excess of one million dollars? Umm ... Not where I live. Maybe elsewhere. That high net worth would seem strangely at odds with many states’ crumbling roads and infrastructure.
Do you not understand averages?
Average = sum of net worth of U.S. households (over age 7
5)/number of U.S. household (over age 7
5)
The super rich are going to skew that number high. Hence why it is 4x the median.
The Average Household Net Worth In America Is Huge So the average U.S. household (over age 75) has a net worth in excess of one million dollars? Umm ... Not where I live. Maybe elsewhere. That high net worth would seem strangely at odds with many states’ crumbling roads and infrastructure.
