What do you think of the average American net worth?

2016-09-15T03:13:55-04:00

It looks like we are all broke!

Response by MSG Wade Huffman made Sep 15 at 2016 7:58 AM

2016-09-15T07:58:00-04:00

Interesting, but I'd like to see the same statistics over the past 25-50 years with adjusted values for comparison.

Response by MCPO Roger Collins made Sep 15 at 2016 10:01 AM

2016-09-15T10:01:55-04:00

I'm not, retired from the Navy Nov. '77, then from private industry 1999. Have a positive cash flow and have no need to touch my savings or investments, with th the exception of RMD.

Response by MSgt Private RallyPoint Member made Sep 15 at 2016 10:18 AM

2016-09-15T10:18:07-04:00

Workig hard to increase the average of my age group!

Response by SGT David T. made Sep 15 at 2016 10:42 AM

2016-09-15T10:42:59-04:00

Sweet! I exceed the average lol

Response by Col Joseph Lenertz made Sep 15 at 2016 1:54 PM

2016-09-15T13:54:36-04:00

Yes, it's kinda depressing. Our media bombard us constantly, by every avenue of approach, that we simply MUST have the next smart phone and car and 80" UHDTV and...we believe them. I am so thankful of my father's experience and wisdom he passed on to me..."live within your means" actually means "live well, beneath your means".

Response by SSG Private RallyPoint Member made Sep 15 at 2016 3:28 PM

2016-09-15T15:28:30-04:00

I'm surprised people have that much equity in their homes, I know my homes equity is still about 40% below what it was in 2008. I'm also surprised that people have that little invested in 401K and other retirement plans... are retired people going to start moving back in with their kids like they did in the 50's?

Response by SPC Private RallyPoint Member made Sep 15 at 2016 10:37 PM

2016-09-15T22:37:05-04:00

I think it makes logical sense that your net worth would increase as you age and have time to accumulate investments and savings. Also, major purchases made on credit such as a home or a college education are likely what's keeping young peoples' net worth down. Add in the cost of having young children and the lower salaries for entry and mid-level positions and it's no wonder why the under 35 crowd doesn't have much to their name. If you look further at the amount of net worth that is attributed to home equity vs other assets, I think prime real estate generally lies near cities and other popular destinations and older folks have been occupying those homes since before they were worth a whole lot.