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"U.S. households with any kind of debt — mortgage, credit cards, student loans, auto loans, etc. — owe an average $135,768" So, if we exclude everyone who has
by rconti 8y ago
"U.S. households with any kind of debt — mortgage, credit cards, student loans, auto loans, etc. — owe an average $135,768"
So, if we exclude everyone who has no debt, and include mortgage debt as 'debt', Gen X has a scary-sounding level of debt! Whodathunkit?
I started a new job last year, and it's pretty scary to login and look at my 401k, where it says: "People My Age: Average Savings Rate: 6%. Account Balance: $29,428". Now, presumably, some/many of their account holders ALSO have other retirement accounts, but I imagine the average age of these accounts is probably more than the 1 year I have into it.
- eej71 8y agoWould probably be more useful to know the relative size of the mortgage that remains to be paid compared to prior generations at the same age. Or even - the average amount of debt relative to the holder's average annual income and compare that against prior generations at that age.