An average american has $1,000,000

when she/he over 40.

Obama has 7 millions dollars.

of course the head men of chinaland are far richer than Obama.

- Chinese leader's family worth a billion


-The family of Chinese Premier Wen Jiabao, a leader known for his ... including his wife, have controlled assets worth at least $2.7 billion," it said ...

 

You obviously have no idea what you are talking about if you think an average American has $1M after 40 years of age.

 

I love to overrate others. ok, be more realistic, they have at least $400,000 when they are 40.

 

Did you make a thread just to guess? Why not do a search for factual data? Net worth is not subjective.

 

if true, then this proves the Obama agenda is good since it was previously reported that the average American was in debt under traitor Bush

 

Wrong again. Keep guessing, and eventually you will hit on the answer.

 

go up or go down?

 

Averages can be very misleading even if accurate. It's possible that the number of super rich people pulls that average up substantially. An example of how this works: If 9 people have $100 and 1 person has $1 million then the average is $100,090. Obviously only 1 in 10 actually has anything close to $100,000 but the average as calculated is still correct.

 

Go way, way down.

Average new worth 35-44 age group $51,575.
65% of American have a net worth below $100,000. http://www.nasdaq.com/article/americans-have-relatively-poor-net-wealth-cm257517

 

The OPer has now started 3 threads guessing about how much $$ the average American has in the bank or net worth. Curious as to why?

 

Net worth is complicated to calculate. A huge number of Americans have less than zero if you consider their debts. Figuring the deficient or equity is their home, car and personal property are not absolute numbers. This is particularly true for real estate. Another complexity are student loans. A person has $50,000 in student loan debt, but a likely higher lifetime income because of the degree. So is the $50,000 only a negative? OR do you calculate the person will make $200,000 more in their lifetime so it is a $150,000 asset? Now factor in inflation versus interest on the loan. At best, educated guessing and prophesy about the future.

Money in the bank is largely only a matter of money in the bank. What about money in T-Notes or stocks or mutual funds? In real estate? Jewelry? Precision metals? Their personal property like furniture, motorcycle, cars, tools? While they may not bring much at a sale, since they have those they don't need to spend money to buy them.

Many Americans have massive quantities of stuff, from valuable to junk. One person's trash is another person's treasure.

Or course, do we also attach each person's share of the national debt and deduct that from the value of their assets? Likely that amount of their share of the debt will be a lose via inflation, but then again their salary may go up along the way too.

One woman has $35 in her purse and another $500. But the one with $35 dollars is wearing a $2000 wedding ring. But a ring she'll never sell so it has no spendable value. So who has more?

 

I assume the poster is not American and is curious as to whether or not the propaganda where ever the poster's from is actually true or not, at least in the posts of theirs I've read, which admittedly just a few at this point. I've done a lot of traveling in many not-so-nice places around the world, and this sort of idea is not at all uncommon among populations that have little access to a free press. Just wearing shoes is enough to be singled out as 'rich' in many parts of the world.

 

No, sir, you said in many places if a person has shoes.
He is rich. It is wrong.

It was true, many chinese had no pants to wear in 1960's.
As the chinese defence minister at that time mentioned.

And the last chinese PM said he was never have enough food when he was young.
Now he was reported to steal 2.7 billions dollars.

1n 1990, chinese made about $1 per day.

Now there are millions chinese millionaires and hundreds chinese billionaires.

An average person in beijing is richer than an average person in NY,
It is because the house price.

USA should not let china to join the WTO, chinese goods flood to the world.
China is too fat now.

 

I lived in America, in NY and other places.

let's say, you get your uni degree at 21, and married.
your pay is $40,000, in 20 years it may go up to $120,000.
your wife's pay is $40,000, in 20 years it may go up to $60,000.

ler's say your family saved $30,000 per years.
and you get an inheritance about $200,000.

So when you are 41, you family have $800,000.

 

I do not care there are 100 millions poor people in china.
There are 10 millions or more rich people in east asia, this is to much.

I see these many rich east Asian people here.

 

Saving $30k out of $40k a year leaves the couple with $10k per year to support themselves. You can't even rent a closet in NYC for that amount, let alone pay for other living expenses. What are you even trying to say? That Americans are rich? Or what? Because the typical American family has a net worth far lower than $800,000--the median is $44k, actually.

 

You mean they are in debt that much?

 

I said the husband and the wife all have a job, they make 2 x $40, 000/ year.
Most american own houses, the house is moren than $44, 000.

 

Wrong again, many, not most, Americans pay on a house that is owned by a Bank.

 

Okay ... read a few more of he/she/it/mutant's posts and it's a troll. Obviously one who has never been anywhere near NYC at least.

 

A lot of Americans have hundreds of thousands of dollars invested in revenue generating equities from large 'evil' corporations. Those people's investments are typically done on a 'dollar cost averaging' basis and accrue in multiples via compound interest. It is likely that many Americans DO have a million dollars or close to it in their portfolios. They need it for retirement because their SSI (which they paid into all their lives) was a ponse scheme and is now inadequate to support them when they are too old to work AND, because of draconian liberal taxation they will be taxed on the money they have already paid taxes on.

 

sir, you are a mutant, please do not call others are a mutant.

 

yes, The truth is that many American have hundreds thousands dollars.
that's why there millionaires are called middle class in America.

Strasser is not a up/middle class in NY.
since one in every 25 New Yorkers is a millionaire

 

Technically you are correct however, one doesn't live a millionaire's lifestyle on a million dollars worth of investments if they are too old to work. The real objective is to provide the lifestyle they were accustomed to when they worked.

 

Today, you need a few millions to live like a rich man.