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1 in 7 white households have $1M net worth. U post
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Poast new message in this thread
Date: March 22nd, 2018 10:18 PM Author: aromatic scarlet coldplay fan dingle berry https://www.washingtonpost.com/news/wonk/wp/2017/10/03/white-families-are-twice-as-likely-to-be-millionaires-as-a-generation-ago/?utm_term=.e42043bd2ced
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Date: March 22nd, 2018 10:25 PM Author: Pearl hyperventilating hell jap Subject: Win thi$ 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: aromatic scarlet coldplay fan dingle berry (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: Alcoholic Electric Area (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: 180 canary public bath dopamine 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: aromatic scarlet coldplay fan dingle berry (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: Glittery church 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: aromatic scarlet coldplay fan dingle berry (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: swashbuckling sienna degenerate chapel 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: Boyish office 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: Cobalt effete native bbw 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: bearded fat ankles pit 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: copper coffee pot hominid lmao boomers booming it all away
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Date: March 22nd, 2018 10:35 PM Author: bearded fat ankles pit 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: French Theater Stage Toaster (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: Cobalt effete native bbw (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: aromatic scarlet coldplay fan dingle berry (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: Pearl hyperventilating hell jap 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: burgundy sex offender (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: aromatic scarlet coldplay fan dingle berry (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: splenetic tanning salon factory reset button (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: crawly bateful mexican feces 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: 180 canary public bath dopamine (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: charismatic slippery internal respiration step-uncle's house (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: crawly bateful mexican feces 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: bearded fat ankles pit 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: Apoplectic Aqua Voyeur Dilemma 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: crawly bateful mexican feces 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: Apoplectic Aqua Voyeur Dilemma 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: crawly bateful mexican feces 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: ultramarine aphrodisiac heaven gaping 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: charismatic slippery internal respiration step-uncle's house 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: aromatic scarlet coldplay fan dingle berry (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: bespoke keepsake machete pocket flask 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: ultramarine aphrodisiac heaven gaping 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: crawly bateful mexican feces 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: ultramarine aphrodisiac heaven gaping 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: bistre hairraiser chad (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: stimulating charcoal bawdyhouse 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: ultramarine aphrodisiac heaven gaping 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: crawly bateful mexican feces 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: bistre hairraiser chad 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: ultramarine aphrodisiac heaven gaping 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: copper coffee pot hominid 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: crawly bateful mexican feces Average wealth is >$900k, median is <$300k.
Rich outliers skew the numbers. |
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Date: March 22nd, 2018 10:34 PM Author: Cobalt effete native bbw (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: mind-boggling citrine stage 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: aromatic scarlet coldplay fan dingle berry (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: Outnumbered yapping hairy legs 170 is high?
JFC none of you people live in New Jersey. |
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Date: March 22nd, 2018 10:36 PM Author: trip chrome telephone 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: talking foreskin (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: bearded fat ankles pit 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: Jet sticky genital piercing nursing 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: fishy heady parlor kitty 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: Lavender boiling water 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: Hideous den immigrant 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: dun senate french chef 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: Hideous den immigrant 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: dun senate french chef 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: Hideous den immigrant 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: dun senate french chef 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: Lavender boiling water 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: dun senate french chef 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: Passionate frozen gaming laptop 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: Passionate frozen gaming laptop 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: Ivory incel kitchen 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: Passionate frozen gaming laptop 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: stimulating charcoal bawdyhouse (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 shitlib 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: aromatic scarlet coldplay fan dingle berry (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: Outnumbered yapping hairy legs A lot of Boomers are rich, news at 11. (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#36929939) |