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Personal Finance and Investing

bucolic_frolic

(47,645 posts)

6. There are drivers that feed net worth, but even they are not a guarantee

Reply to Marthe48 (Original post)

Mon Nov 6, 2023, 04:08 PM

Nov 2023

Education, skills or technological innovation, work ethic, spending and debt habits, location, location, location.

The book "Poverty and Place" a recent one by Princeton sociologists shows how being in a backwater means you remain in a backwater. Poverty statistically, en masse, has a powerful location element.

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Marthe48

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Average net worth [View all] Marthe48 Nov 2023 OP

I'm definitely above the median but nowhere near the average according to my age group jimfields33 Nov 2023 #1

That's what I thought Marthe48 Nov 2023 #2

They are distorted by the ULTRA rich. Happy Hoosier Jan 2024 #10

Marthe, I can lend you $20 if it helps True Dough Nov 2023 #3

That's so kind of you Marthe48 Nov 2023 #4

Good article. The average net worth doesn't mean a lot. The Median is believable if home equity Silent Type Nov 2023 #5

There are drivers that feed net worth, but even they are not a guarantee bucolic_frolic Nov 2023 #6

Anyone that has ever taken a statistics class (especially business statistics) walkingman Nov 2023 #7

Those numbers, especially the median, PoindexterOglethorpe Nov 2023 #8

If I moved across the Ohio to WV Marthe48 Nov 2023 #9

The gap in median and average - Statista Research Summary AnnaLee Mar 2024 #11