Saving advice helps!

[LivingAlmostLarge]

https://www.benzinga.com/money/are-you-rich?utm_campaign=partner_feed&utm_source=yahooFinance&utm_medium=partner_feed&utm_content=site&nid=41320015

Was just thinking if you are savvy enough to come on here you likely are better for it. It makes you more accountable and part of the people in the upper echelons of wealth.

[james.hendrickson]

Totally - there are more people with higher net worths here.

[serpent]

good article.

[Tabs]

I am glad the article points out the difference between average and median.

[disneysteve]

Every time one of these articles comes out, the numbers are different so it’s hard to know what is correct. There was one not long ago that said $4 million was top 4%. This says $2.5 million is top 2%.

It doesn’t really matter I suppose but it would be great to see actual accurate data.

[kork13]

Every time one of these articles comes out, the numbers are different so it’s hard to know what is correct. There was one not long ago that said $4 million was top 4%. This says $2.5 million is top 2%.

It doesn’t really matter I suppose but it would be great to see actual accurate data.

These differences are generated mostly by polling differences. Remember that when they say "$X is the average/median whatever" ... They're really just reporting it based on their sample pool of a few thousand "statistically representative" respondents to their survey, which they extrapolate to tell a story about the larger population. But who those individuals are matters alot, and will drastically shift survey results based on who you hear from. People self-select for & reject participation with studies. Researchers don't all use consistent selection criteria. And so on .... As they say, "there are lies, d@&% lies, and statistics." Not even saying that the researchers are intentionally misrepresenting the population or the data .... But unless you get responses from a significant majority of a population, you're not going to have as accurate of data as the statistics would have you believe. Statistical analysis assumes a homogeneous sample set .... And a population is anything but that, plus individuals' opinions/viewpoints are constantly shifting.

[srblanco7]

Every time one of these articles comes out, the numbers are different so it’s hard to know what is correct. There was one not long ago that said $4 million was top 4%. This says $2.5 million is top 2%.

It doesn’t really matter I suppose but it would be great to see actual accurate data.

I agree. Seen a fairly highly amount of variability in what NW defines the top 1%, 2%, etc. I am also unclear if those NW amounts are for an individual (vs. a couple). That is, if a married household is to be in the top 2%, is that 2x the value reported?