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1 in 7 white households have $1M net worth. U post
Poast new message in this thread
Date: March 22nd, 2018 10:18 PM Author: fragrant costumed ape https://www.washingtonpost.com/news/wonk/wp/2017/10/03/white-families-are-twice-as-likely-to-be-millionaires-as-a-generation-ago/?utm_term=.e42043bd2ced
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Date: March 22nd, 2018 10:25 PM Author: awkward abode Subject: Win thi$ http://www.megamillions.com (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35665873) |
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Date: March 22nd, 2018 10:43 PM Author: fragrant costumed ape (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35666091) |
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Date: September 30th, 2018 10:35 PM Author: chrome disrespectful den black woman (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#36930010) |
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Date: March 22nd, 2018 10:28 PM Author: yapping liquid oxygen sound barrier Cops don't make that much starting (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35665911) |
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Date: March 22nd, 2018 10:47 PM Author: fragrant costumed ape (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35666135) |
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Date: March 22nd, 2018 10:57 PM Author: Motley Mad Cow Disease Legal Warrant that's poverty wages in that city (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35666235) |
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Date: March 22nd, 2018 10:59 PM Author: fragrant costumed ape (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35666262) |
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Date: March 23rd, 2018 11:19 AM Author: misanthropic wonderful university halford lol...you jumped directly from the #1 most expensive US metro to the #2. (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35669415) |
Date: March 22nd, 2018 10:19 PM Author: Lemon Church Building Pisswyrm Poasting was the only reason that Peterman was able to achieve that. What say you to that (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35665816) |
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Date: March 22nd, 2018 10:24 PM Author: coiffed laughsome sandwich heaven Its mostly white baby boomers rofl (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35665866) |
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Date: March 22nd, 2018 10:27 PM Author: Razzmatazz locale I guess that's ok for their children as they can give them money and pass it on... unless you have a lot of brothers and sisters, then ur fucked. (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35665899) |
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Date: March 22nd, 2018 10:32 PM Author: Carmine ungodly hospital scourge upon the earth lmao boomers booming it all away
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Date: March 22nd, 2018 10:35 PM Author: Razzmatazz locale is that why they are called boomers? (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35665992) |
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Date: March 22nd, 2018 10:35 PM Author: Milky Range (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35665993) |
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Date: March 22nd, 2018 10:36 PM Author: coiffed laughsome sandwich heaven (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35666005) |
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Date: March 22nd, 2018 10:45 PM Author: fragrant costumed ape (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35666110) |
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Date: March 22nd, 2018 10:31 PM Author: awkward abode http://www.megamillions.com (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35665939) |
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Date: March 22nd, 2018 10:45 PM Author: 180 toaster quadroon (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35666108) |
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Date: March 22nd, 2018 10:46 PM Author: fragrant costumed ape (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35666123) |
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Date: September 30th, 2018 10:18 PM Author: Chestnut Parlor Selfie (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#36929925) |
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Date: March 22nd, 2018 10:31 PM Author: Crystalline stag film Wealth should not include equity in a primary residence. (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35665938) |
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Date: March 22nd, 2018 10:32 PM Author: yapping liquid oxygen sound barrier (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35665948) |
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Date: March 22nd, 2018 10:32 PM Author: Slate Big Lodge Keepsake Machete (does not live in NYC/LA/SF) (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35665952) |
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Date: March 22nd, 2018 10:35 PM Author: Crystalline stag film You need to live somewhere, so home equity is not a lump of investable cash. (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35665986) |
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Date: March 22nd, 2018 10:36 PM Author: Razzmatazz locale if you live in a 2M home in NY then move to FL for retirement, it basically is. (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35666002) |
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Date: March 22nd, 2018 10:55 PM Author: khaki well-lubricated friendly grandma sure it is. can’t i remortgage the equity and continuously reinvest it in equities? (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35666201) |
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Date: March 22nd, 2018 10:58 PM Author: Crystalline stag film What could go wrong? (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35666252) |
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Date: March 22nd, 2018 11:02 PM Author: khaki well-lubricated friendly grandma yes, upside is generally accompanied by risk in modern financial markets. and therefore...you actually can’t reinvest the value represented by the equity in your home? cmon man. (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35666298) |
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Date: March 22nd, 2018 11:26 PM Author: Crystalline stag film Because if the market tanks you could be underwater on your home. And if everyone does what you say then that will happen much sooner. (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35666551) |
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Date: March 23rd, 2018 11:18 AM Author: Lascivious antidepressant drug If the market tanks your stocks could lose value. If runaway inflation happens your cash could lose value. A lot of things could make your net worth decrease, but that doesn't mean it's *not* net worth. (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35669407) |
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Date: March 22nd, 2018 10:57 PM Author: Slate Big Lodge Keepsake Machete i do give some credit to the idea of marking home equity, 401K, 529, etc., to 0 in net worth calcs. (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35666239) |
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Date: March 22nd, 2018 11:20 PM Author: fragrant costumed ape (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35666488) |
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Date: March 24th, 2018 1:29 AM Author: lavender appetizing dilemma travel guidebook Everything other than home equity should count. (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35675987) |
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Date: March 22nd, 2018 11:25 PM Author: Lascivious antidepressant drug Wealth =/= investable cash
Also, unless you live in a shack, you can sell your house and live somewhere cheaper. |
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Date: March 22nd, 2018 11:30 PM Author: Crystalline stag film Just sell your house and live somewhere cheaper when it pulls your kid out of a good school district. (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35666603) |
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Date: March 23rd, 2018 10:50 AM Author: Lascivious antidepressant drug So? Spending your money means you can't use it on other things. That doesn't mean it's not part of your worth. (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35669201) |
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Date: March 23rd, 2018 11:23 AM Author: Clear Set (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35669459) |
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Date: March 23rd, 2018 11:19 AM Author: Trip Fighting Menage not everyone lives in mom's basement forever (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35669416) |
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Date: March 22nd, 2018 11:24 PM Author: Lascivious antidepressant drug Why not? (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35666528) |
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Date: March 22nd, 2018 11:28 PM Author: Crystalline stag film You almost certainly have familial and emotional obligations that make primary residence equity less fungible than, say, a stock portfolio. Primary residences are not simply another asset class. (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35666586) |
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Date: March 23rd, 2018 11:23 AM Author: Clear Set i see what you're saying, but an asset being illiquid -/-> you don't count it in your net worth. (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35669456) |
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Date: March 23rd, 2018 12:07 PM Author: Lascivious antidepressant drug I think that can be true for a lot of assets (cars, jewelry). There are other qualities that make assets more or less fungible, but I don't think they should be excluded from net worth (unless you're going to totally redefine what it means).
Maybe some other classification (easily investable worth?) makes sense. |
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Date: March 22nd, 2018 10:32 PM Author: Carmine ungodly hospital scourge upon the earth how is this possible, i thought an absurdly low number of boomers had even like 10K saved for retirement (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35665947) |
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Date: March 22nd, 2018 10:34 PM Author: Crystalline stag film Average wealth is >$900k, median is <$300k.
Rich outliers skew the numbers. |
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Date: March 22nd, 2018 10:34 PM Author: coiffed laughsome sandwich heaven (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35665984) |
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Date: March 22nd, 2018 10:39 PM Author: apoplectic nowag spot Median is 170 according to the article. Still sounds high to me. (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35666035) |
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Date: March 22nd, 2018 10:49 PM Author: fragrant costumed ape (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35666142) |
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Date: September 30th, 2018 10:23 PM Author: Demanding Marketing Idea 170 is high?
JFC none of you people live in New Jersey. |
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Date: March 22nd, 2018 10:36 PM Author: exciting gas station property rich, cash poor (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35666001) |
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Date: March 22nd, 2018 11:22 PM Author: vivacious base brethren (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35666511) |
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Date: March 22nd, 2018 10:37 PM Author: Razzmatazz locale it wouldn't surprise me if both were true.
I could see 1/7 people having 1M in assets.
I could also see 4/7 having less than 100K in assets. |
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Date: March 22nd, 2018 11:25 PM Author: Dashing Laser Beams Home didn't click but has to be including their home values tons of boomers in CA and east coast are "millionaires" that way |
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Date: March 23rd, 2018 11:20 AM Author: Bonkers library filthpig A bunch of them rode the housing bubble all the way: bought in Los Altos for 250k and are now sitting on a 2.5 million house (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35669425) |
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Date: March 23rd, 2018 11:09 AM Author: thriller goal in life white or (((white)))? (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35669323) |
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Date: March 23rd, 2018 11:11 AM Author: henna hissy fit pretty sure it's like 6/7 for (((whites))) (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35669338) |
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Date: March 23rd, 2018 11:13 AM Author: Titillating prole senate I’m probably a paper millionaire including home equity (including wife’s claim on assets).
Problem is a lot of it is home equity that I can’t easily access.
I still feel poor as fuck and am constantly nervous about me or wife getting Lathamed.
I’m (((white))), so make of that what you will. |
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Date: March 23rd, 2018 11:14 AM Author: henna hissy fit If your wife works say *we*. You by yourself are not a paper millionaire. You and your wife are. (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35669360) |
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Date: March 23rd, 2018 11:15 AM Author: Titillating prole senate Fair. I edited before I saw your post. (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35669374) |
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Date: March 23rd, 2018 11:16 AM Author: henna hissy fit This works very well where the couple is committed to staying together forever. (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35669394) |
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Date: March 23rd, 2018 11:17 AM Author: Titillating prole senate Neither of us is from a broken home, at least. (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35669397) |
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Date: March 23rd, 2018 11:14 AM Author: thriller goal in life So you probably have lots of Jew gold buried in the backyard then (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35669361) |
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Date: March 23rd, 2018 11:16 AM Author: Titillating prole senate I should go check. (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35669388) |
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Date: March 23rd, 2018 11:15 AM Author: diverse box office damn among the xoxo cohort, like college educated whites and asians living in a top 15 population city and above age 40 i bet this number has to rise to like 1/4.
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Date: March 23rd, 2018 11:19 AM Author: diverse box office other data: about 8% of households (calculated based on the 10mm millionaire figure assuming 125mm households) have $1mm in investable assets excluding home equity
https://www.cnbc.com/2017/03/22/record-number-of-millionaire-households-in-us.html |
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Date: March 23rd, 2018 11:19 AM Author: odious genital piercing Is a million supposed to be a lot in 2018? That was a lot of money in 1985. It's nothing in 2018. I'm worth like $1.5 million. I still have to work. That amounting money just means if I get fired I can spend 6 months looking for a job instead of immediately selling a kidney or driving Uber. $5 million is the new $1 million just like 250k is the new $100k for a good salary. $100k now is nothing. (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35669420) |
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Date: March 23rd, 2018 11:25 AM Author: diverse box office but tbf, $1mm gets you 30 years of $65k distributions assuming 6% returns.
So you already know you can retire at 65.
And you are young so if you can double that by 55 you probably could retire then (if OK to live on fixed income). |
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Date: March 23rd, 2018 11:21 AM Author: Trip Fighting Menage (guy who doesn't think 1 out of 7 xo posters are worth $1+ million) (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35669433) |
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Date: March 23rd, 2018 3:13 PM Author: Pink marvelous stage What percentage of households with members in their 30s have a net worth of 1 million? (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35671593) |
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Date: September 30th, 2018 10:17 PM Author: fragrant costumed ape (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#36929914) |
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Date: September 30th, 2018 10:21 PM Author: Demanding Marketing Idea A lot of Boomers are rich, news at 11. (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#36929939) |