Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search
11 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies

jimfields33

(19,134 posts)
1. I'm definitely above the median but nowhere near the average according to my age group
Sun Nov 5, 2023, 09:57 PM
Nov 2023

Those numbers are shockingly high.

Happy Hoosier

(8,431 posts)
10. They are distorted by the ULTRA rich.
Tue Jan 30, 2024, 11:14 AM
Jan 2024

Throw in a few billionaires, and the average number climbs.

Like you, I am well above the median, but not at the "average" I'd be interested in what the average looks like if you dropped off the top and bottom 1%



Marthe48

(19,112 posts)
4. That's so kind of you
Sun Nov 5, 2023, 10:23 PM
Nov 2023

I appreciate your thoughtfulness. I just offered to give someone $20 on Friday, haven't heard back if they got enough to get thru a rough spot. If I ever need help, I'll know where to come Thank you!

Silent Type

(6,761 posts)
5. Good article. The average net worth doesn't mean a lot. The Median is believable if home equity
Sun Nov 5, 2023, 10:37 PM
Nov 2023

is considered. Although, I think it’s a bit lower than displayed.

From 90 article. There is also a table by age.

“ Between 2019 and 2022, the median net worth of U.S. households surged 37% to $192,900, according to the report. The mean, or average, net worth increased 23% to $1,063,700.

“You may be wondering why the mean is so much higher than the median net worth. That’s because the wealthiest households tend to drive the average up.”

bucolic_frolic

(47,129 posts)
6. There are drivers that feed net worth, but even they are not a guarantee
Mon Nov 6, 2023, 04:08 PM
Nov 2023

Education, skills or technological innovation, work ethic, spending and debt habits, location, location, location.

The book "Poverty and Place" a recent one by Princeton sociologists shows how being in a backwater means you remain in a backwater. Poverty statistically, en masse, has a powerful location element.

walkingman

(8,393 posts)
7. Anyone that has ever taken a statistics class (especially business statistics)
Mon Nov 6, 2023, 06:25 PM
Nov 2023

would know that this article is meaningless.

There are lies, damned lies and statistics.

PoindexterOglethorpe

(26,730 posts)
8. Those numbers, especially the median,
Mon Nov 6, 2023, 06:51 PM
Nov 2023

vary widely depending on what state, what city, what precise area you are looking at. I'm guessing rural Mississippi or Alabama has a much lower median. San Francisco and all the other major cities, will be much higher.

AnnaLee

(1,160 posts)
11. The gap in median and average - Statista Research Summary
Thu Mar 21, 2024, 12:24 PM
Mar 2024
https://www.statista.com/statistics/203961/wealth-distribution-for-the-us/
U.S. wealth distribution Q3 2023
"In the third quarter of 2023, 66.6 percent of the total wealth in the United States was owned by the top 10 percent of earners. In comparison, the lowest 50 percent of earners only owned 2.6 percent of the total wealth."

So, the other 40% have 30.8% of the wealth. (Probably has the same skewed bias as the total population.)
Latest Discussions»Culture Forums»Personal Finance and Investing»Average net worth