Quote:
Originally Posted by antzcrashing
Do some research.
The average American family has a $748,000 net worth, according to Federal Reserve data. But the median net worth is $121,700.
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The median is the more accurate number vs the average net worth. The upper 1% own 30%+ of the wealth in this country and the upper 10% own 70%+ of it. This income inequality is what massively skews the $748K net worth number.
The upper 10% is defined as a annual household income of ~$212K.
The upper 1% is $570K (dual income).
The median income in the US is around $79K.
It's those in the median income range and below that will struggle with retirement because they simply aren't or can't put money away in retirement. Over 67% of the households in the US make less than $100K/yr and over 55% less than $76K/yr.
I know it's hard for some on this site to believe these numbers because they have high incomes and surround themselves with similar income friends.