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The average American will make 1.5 million TOTAL during their entire working lifetime from teenager to retirement/death. If you have that amount or more on han
by kgin 5y ago
The average American will make 1.5 million TOTAL during their entire working lifetime from teenager to retirement/death.
If you have that amount or more on hand right now in investable assets, the only thing keeping you from financial freedom is the desire to have a fancier lifestyle than the average American.
- medvezhenok 5y ago*Present day value. Not including fringe benefits like insurance, 401k match, etc. And if we have a period of high inflation, you have to make sure your assets actually stay on top of that; otherwise your 1.5M can quickly shrink in real value. And also you have to include the implied value of Social Security for the average worker, as well as any asset appreciation they experience from owning a house (Social Security is roughly ~500K present value, since avg. payment is ~1.5K/month, paid off house(s) could be worth up to another $1M in appreciation over a lifetime). So that's closer to $3M (minus taxes) to equal the average American (and whatever inheritance they might or might not have). Yes, most likely you are set if you have 1.5M - but it's not a guarantee.
- deleted 5y ago[deleted]