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> Median Household networth of 25-49.9 percentile is $58K. Also not not poor. Hell, as a yearly income, that's poor much less a networth. Not destitute, but de
by Supermancho 5y ago
> Median Household networth of 25-49.9 percentile is $58K. Also not not poor.
Hell, as a yearly income, that's poor much less a networth.
Not destitute, but definitely poor. You can't afford to live anywhere near a city and probably live in a trailer or worse (shack with limited services). The metric is by household, so no splitting with roommates.
- rsj_hn 5y ago> Hell, as a yearly income, that's poor much less a networth. Not really, because this is primarily young people who are building savings. By retirement age, the savings are much higher even for the median household. Even in the 45-54 cohort, the median networth is 168K. By the time you reach 55-64, median HH income is $213K. Post-retirement, 65-74, median network is $266K. Then it starts to decline as people spend down their savings, so 75 and over it's $254K. I mean, I guess you can call whatever you want "poor", but we have standard definitions for these things. And an income of $58K is not "poor" for any age, but FYI median household income for all ages is north of $70K.
- Supermancho 5y ago> And an income of $58K is not "poor" for any age, It is today and going forward, as far as anyone can tell.
- rsj_hn 5y agoWithin the OECD, only Switzerland, Norway, and Luxembourg have a higher median household income than the U.S. https://www.oecd-ilibrary.org/docserver/45ae3dae-en.pdf?expires=1636583328&id=id&accname=guest&checksum=EED753BA65F69267C567DF687F969939 https://www.oecd-ilibrary.org/docserver/45ae3dae-en.pdf?expi...