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Old 09-14-2016, 02:57 PM   #1 (permalink)
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Your net worth

Found this really interesting. Shocked at how little equity people have outside of their home.
Should be a green bar that represents paintball marker investment


SOURCE: U.S. CENSUS BUREAU
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Old 09-14-2016, 03:02 PM   #2 (permalink)
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I saw this today and was pretty floored as well. However, the more I thought about it, the more it makes sense. This is a chart of Median Net Worth. There are far more poor people than there are super rich, thus dragging the median down.
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Old 09-14-2016, 03:10 PM   #3 (permalink)
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Very true, the average #'s would be higher. Median is generally more reflective of the population as a whole though.
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Old 09-14-2016, 03:14 PM   #4 (permalink)
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I wonder if they also excluded mortgage debt when they cut out home equity...
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Old 09-14-2016, 03:35 PM   #5 (permalink)
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I wonder if they also excluded mortgage debt when they cut out home equity...
If they didn't do this, they are really irresponsible.

I was wondering if they included things like cars, businesses, retirement accounts etc... Most of the time, Economists are lazy and just look at easily quantifiable and appraisable stuff like bank accounts.
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Old 09-14-2016, 03:49 PM   #6 (permalink)
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are they throwing out the top 1% or whatever that owns 99% or everything for this?
or are they included?
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Old 09-14-2016, 04:50 PM   #7 (permalink)
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If they didn't do this, they are really irresponsible.

I was wondering if they included things like cars, businesses, retirement accounts etc... Most of the time, Economists are lazy and just look at easily quantifiable and appraisable stuff like bank accounts.
It's census data so its just based on asking the sample set the question. I'm going to assume that a lot of people don't actually know the answer to this question, especially on the liability side.

Found the answer of what they are asking
https://www.census.gov/people/wealth/...d%207-3-14.pdf

Net worth (wealth) is the sum of the market value of assets owned by every member of the household minus liabilities owed by household members. The major assets not covered in this measure are equities in pension plans, the cash value of life insurance policies, and the value of home furnishings and jewelry.

Median net worth is the amount that divides households into two equal groups, one having net worth less than that amount and the other having net worth above that amount.

Some of the components of net worth: - Assets: Interest-earning assets held at financial institutions, stocks and mutual fund shares, rental property, home ownership, IRA and Keogh accounts, 401k and Thrift Savings Plans, vehicles, and regular checking accounts.
- Liabilities: Mortgages on own home, mortgages on rental property, vehicle loans, credit card debt, educational loans, and medical debt not covered by insurance.
Household

Also, outliers were excluded.

Last edited by theangrydragon; 09-14-2016 at 05:10 PM.
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Old 09-14-2016, 05:03 PM   #8 (permalink)
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My guess would have been about what the chart says to a bit lower honestly.
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Old 09-14-2016, 05:22 PM   #9 (permalink)
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This is interesting

"Median household net worth in the United Sates has followed this pattern over the
past decade, increasing from $73,874 [+/- $1,455] in 2000
to $106,585 [+/- $1,642] in 2005 (an increase of $32,711 or 44 percent)
and then decreasing to $68,828 [+/- $1,235] by 2011 (a decrease of $37,757
or 35 percent)"
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Old 09-14-2016, 06:25 PM   #10 (permalink)
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Including mortgage debt but not equity? Nonsense.
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Last edited by Axel; 09-14-2016 at 06:28 PM.
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