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I can't access the article, but since median household wealth is much lower, the Fed estimate must be imputing the value of future Social Security and Medicare
by Bostonian 3y ago
I can't access the article, but since median household wealth is much lower, the Fed estimate must be imputing the value of future Social Security and Medicare benefits. If you are credited with future government benefits, shouldn't you reduce that by an estimate of future taxes you will pay? Otherwise the federal government announcing that Social Security benefits are being doubled would drastically raise the net worth of households, which is unrealistic.
- tenarchits 3y agoThis is just mean ($1.1m) vs median ($0.2m) confusion. The underlying data are here: https://www.federalreserve.gov/econres/scf/dataviz/scf/chart/#series:Net_Worth;demographic:all;population:1;units:mean;range:1989,2022 https://www.federalreserve.gov/econres/scf/dataviz/scf/chart....