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Understandable for the US. Still, the median is closer by orders of magnitude to 5k than 1M. I was loosely estimating the numbers for the Western world, includ
by caseyy 3y ago
Understandable for the US. Still, the median is closer by orders of magnitude to 5k than 1M.
I was loosely estimating the numbers for the Western world, including West Europe, in my head. I don’t know that many people who have significantly above $5k/£4k savings in the UK.
The average worldwide net worth for 30 year-olds is probably a lot more meager than my estimate.
- rufus_foreman 3y agoNet worth doesn't just include savings, it includes home equity and even equity in vehicles. In the US, right around 50% of 30-34 year olds are homeowners. If someone has been making payments on a house they will be adding to their net worth, especially recently with the rise in housing prices. For non-rich people in the US, the majority of their net worth will be their home equity.
- caseyy 3y agoIt does include debt and its price though. So you may have a mortgaged home but still hover around zero net worth for a little bit.