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Isn't this a truism though. If most Americans could get to the top 10% then it wouldn't be the top 10%.
by zsmi 5y ago
Isn't this a truism though. If most Americans could get to the top 10% then it wouldn't be the top 10%.
- tda 5y agomost American have a fair chance at reaching the top 10% by age at some point in the future. not sure of the numbers but I would guess at least 50% of the population is expected to reach am age where 90% of the other people are younger
- divbzero 5y agoNot quite a truism. Given that wealth varies over each lifespan, you should expect somewhat more than 10% of Americans reach the top 10% at some age.
- simonh 5y agoShock statistic, 50% of students have below average scores in math!
- resoluteteeth 5y agoIt's not a truism given that the original comment is implying that the wealth distribution discussed in the article title is a result of people having more wealth toward the end of their life. Theoretically the 10% of oldest Americans could be the wealthiest 10% as well, although this is certainly not actually the case.
- chmod600 5y agoPeople fall in and out of the categories all the time due to job loss or raises or selling a bunch of stock to make the down payment on a house. Some people are stuck in the lower quintiles, and some people "stuck" in the higher ones. Other people float around or jump due to life events.
- LorenPechtel 5y agoSelling stock to buy a house will lower their stock holdings, not their net worth.