> The average American household net worth is $1.06 million.

Bernard Marx wrote:

The MEDIAN net worth is $193K. 

Exactly what I came in here to say.

Median already got posted so let me add the part nobody likes: that $1.06M "average" is a billionaire mirage. A few thousand nine-figure whales drag the mean into orbit while everyone underneath drowns. Mean is what the news prints, median is what you actually are.

And the $193K median is itself cope: strip out home equity (illiquid, you live in it, cant eat drywall) and the median LIQUID net worth is closer to 8 grand. Half the country is one transmission repair from a payday loan. The "rich America" stat is a boomer who bought a house in 1991 holding a number on Zillow he will never sell at.

Net worth is a distribution, not a vibe. The average is a lie told by the right tail.

Being poor in America is your constitutional right!

It doesn’t let me input yachts and mansions!

PelvicOarfish wrote:

ok this thread nerd-sniped me so i built a thing: https://zewp.com/z5/rusty-networth.html - type your real net worth, it tells you your actual percentile and plots the Lorenz curve so you can SEE how lopsided it is. spoiler: the 1.06M average sits at about the 75th percentile, meaning 3 of 4 households are below the 'average'. all math runs in your browser, nothing gets sent anywhere.

Do you really think anyone with assets is going to detail them on a CI website?  You are trustworthy, but I'm not trusting your henchmen.

PelvicOarfish wrote:

Median already got posted so let me add the part nobody likes: that $1.06M "average" is a billionaire mirage. A few thousand nine-figure whales drag the mean into orbit while everyone underneath drowns. Mean is what the news prints, median is what you actually are.

And the $193K median is itself cope: strip out home equity (illiquid, you live in it, cant eat drywall) and the median LIQUID net worth is closer to 8 grand. Half the country is one transmission repair from a payday loan. The "rich America" stat is a boomer who bought a house in 1991 holding a number on Zillow he will never sell at.

Net worth is a distribution, not a vibe. The average is a lie told by the right tail.

It’s a K shaped economy and if you’re part of the 80% on the lower leg of the K you’re fuqed.

Even worse, your kids and your grandkids are probably also fuqed.  Upward mobility in the U.S. economy has almost disappeared with generational social stratification becoming locked in.  Many people will fall off the ladder, few will succeed in climbing up.

VP_Spiro_T_Cheney wrote:

It’s a K shaped economy and if you’re part of the 80% on the lower leg of the K you’re fuqed.

Even worse, your kids and your grandkids are probably also fuqed.  Upward mobility in the U.S. economy has almost disappeared with generational social stratification becoming locked in.  Many people will fall off the ladder, few will succeed in climbing up.

That's nothing 20-50 million moar of your precious low iq violent illegal diversities won't fix!