The most prestigious law school admissions discussion board in the world.
|
 |
 
|
1 in 7 white households have $1M net worth. U post
Poast new message in this thread
Date: March 22nd, 2018 10:18 PM Author: Sienna meetinghouse friendly grandma https://www.washingtonpost.com/news/wonk/wp/2017/10/03/white-families-are-twice-as-likely-to-be-millionaires-as-a-generation-ago/?utm_term=.e42043bd2ced
|
 |
Date: March 22nd, 2018 10:25 PM Author: rusted vigorous chapel immigrant Subject: Win thi$ http://www.megamillions.com (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35665873) |
|
Date: March 22nd, 2018 10:43 PM Author: Sienna meetinghouse friendly grandma (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35666091) |
|
Date: September 30th, 2018 10:35 PM Author: vivacious legal warrant institution (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#36930010) |
|
Date: March 22nd, 2018 10:28 PM Author: sable range boltzmann Cops don't make that much starting (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35665911) |
|
Date: March 22nd, 2018 10:47 PM Author: Sienna meetinghouse friendly grandma (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35666135) |
|
Date: March 22nd, 2018 10:57 PM Author: Green nursing home legend that's poverty wages in that city (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35666235) |
|
Date: March 22nd, 2018 10:59 PM Author: Sienna meetinghouse friendly grandma (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35666262) |
|
Date: March 23rd, 2018 11:19 AM Author: laughsome theater stage 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: Anal Bright Sound Barrier 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) |
|
Date: March 22nd, 2018 10:24 PM Author: godawful useless address Its mostly white baby boomers rofl (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35665866) |
|
Date: March 22nd, 2018 10:27 PM Author: trip 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) |
|
Date: March 22nd, 2018 10:32 PM Author: Comical Amethyst Electric Furnace lmao boomers booming it all away
|
|
Date: March 22nd, 2018 10:35 PM Author: trip pit is that why they are called boomers? (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35665992) |
|
Date: March 22nd, 2018 10:35 PM Author: Coiffed stag film (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35665993) |
|
Date: March 22nd, 2018 10:36 PM Author: godawful useless address (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35666005) |
|
Date: March 22nd, 2018 10:45 PM Author: Sienna meetinghouse friendly grandma (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35666110) |
|
Date: March 22nd, 2018 10:31 PM Author: rusted vigorous chapel immigrant http://www.megamillions.com (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35665939) |
|
Date: March 22nd, 2018 10:45 PM Author: Lilac Cruise Ship Striped Hyena (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35666108) |
|
Date: March 22nd, 2018 10:46 PM Author: Sienna meetinghouse friendly grandma (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35666123) |
|
Date: September 30th, 2018 10:18 PM Author: irate hairraiser idea he suggested (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#36929925) |
|
Date: March 22nd, 2018 10:31 PM Author: Olive office feces Wealth should not include equity in a primary residence. (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35665938) |
|
Date: March 22nd, 2018 10:32 PM Author: sable range boltzmann (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35665948) |
|
Date: March 22nd, 2018 10:32 PM Author: jet razzle-dazzle azn piazza (does not live in NYC/LA/SF) (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35665952) |
|
Date: March 22nd, 2018 10:35 PM Author: Olive office 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) |
|
Date: March 22nd, 2018 10:36 PM Author: trip 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) |
|
Date: March 22nd, 2018 10:55 PM Author: Black fat ankles 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) |
|
Date: March 22nd, 2018 10:58 PM Author: Olive office feces What could go wrong? (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35666252) |
|
Date: March 22nd, 2018 11:02 PM Author: Black fat ankles 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) |
|
Date: March 22nd, 2018 11:26 PM Author: Olive office 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) |
|
Date: March 23rd, 2018 11:18 AM Author: garnet electric gay wizard 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) |
|
Date: March 22nd, 2018 10:57 PM Author: jet razzle-dazzle azn piazza 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) |
|
Date: March 22nd, 2018 11:20 PM Author: Sienna meetinghouse friendly grandma (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35666488) |
|
Date: March 24th, 2018 1:29 AM Author: nubile gas station kitty cat Everything other than home equity should count. (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35675987) |
|
Date: March 22nd, 2018 11:25 PM Author: garnet electric gay wizard Wealth =/= investable cash
Also, unless you live in a shack, you can sell your house and live somewhere cheaper. |
|
Date: March 22nd, 2018 11:30 PM Author: Olive office 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) |
|
Date: March 23rd, 2018 10:50 AM Author: garnet electric gay wizard 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) |
|
Date: March 23rd, 2018 11:23 AM Author: Indigo native international law enforcement agency (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35669459) |
|
Date: March 23rd, 2018 11:19 AM Author: titillating hominid not everyone lives in mom's basement forever (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35669416) |
|
Date: March 22nd, 2018 11:24 PM Author: garnet electric gay wizard Why not? (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35666528) |
|
Date: March 22nd, 2018 11:28 PM Author: Olive office 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) |
|
Date: March 23rd, 2018 11:23 AM Author: Indigo native international law enforcement agency 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) |
|
Date: March 23rd, 2018 12:07 PM Author: garnet electric gay wizard 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. |
|
Date: March 22nd, 2018 10:32 PM Author: Comical Amethyst Electric Furnace 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) |
|
Date: March 22nd, 2018 10:34 PM Author: Olive office feces Average wealth is >$900k, median is <$300k.
Rich outliers skew the numbers. |
|
Date: March 22nd, 2018 10:34 PM Author: godawful useless address (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35665984) |
|
Date: March 22nd, 2018 10:39 PM Author: henna wonderful indirect expression rehab 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) |
|
Date: March 22nd, 2018 10:49 PM Author: Sienna meetinghouse friendly grandma (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35666142) |
|
Date: September 30th, 2018 10:23 PM Author: pearl blathering indian lodge 170 is high?
JFC none of you people live in New Jersey. |
|
Date: March 22nd, 2018 10:36 PM Author: orange marvelous school private investor property rich, cash poor (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35666001) |
|
Date: March 22nd, 2018 11:22 PM Author: Cerebral kitchen personal credit line (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35666511) |
|
Date: March 22nd, 2018 10:37 PM Author: trip 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. |
|
Date: March 22nd, 2018 11:25 PM Author: bipolar lascivious affirmative action didn't click but has to be including their home values tons of boomers in CA and east coast are "millionaires" that way |
|
Date: March 23rd, 2018 11:20 AM Author: Bossy locale macaca 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) |
|
Date: March 23rd, 2018 11:09 AM Author: carmine racy ladyboy white or (((white)))? (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35669323) |
|
Date: March 23rd, 2018 11:11 AM Author: Flesh Nudist Parlor pretty sure it's like 6/7 for (((whites))) (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35669338) |
|
Date: March 23rd, 2018 11:13 AM Author: Onyx Stimulating Parlour 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. |
|
Date: March 23rd, 2018 11:14 AM Author: Flesh Nudist Parlor 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) |
|
Date: March 23rd, 2018 11:15 AM Author: Onyx Stimulating Parlour Fair. I edited before I saw your post. (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35669374) |
|
Date: March 23rd, 2018 11:16 AM Author: Flesh Nudist Parlor 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) |
|
Date: March 23rd, 2018 11:17 AM Author: Onyx Stimulating Parlour Neither of us is from a broken home, at least. (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35669397) |
|
Date: March 23rd, 2018 11:14 AM Author: carmine racy ladyboy 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) |
|
Date: March 23rd, 2018 11:16 AM Author: Onyx Stimulating Parlour I should go check. (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#35669388) |
|
Date: March 23rd, 2018 11:15 AM Author: beta razzle temple puppy 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.
|
|
Date: March 23rd, 2018 11:19 AM Author: beta razzle temple puppy 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 |
|
Date: March 23rd, 2018 11:19 AM Author: dashing khaki police squad 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) |
|
Date: March 23rd, 2018 11:25 AM Author: beta razzle temple puppy 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). |
|
Date: March 23rd, 2018 11:21 AM Author: titillating hominid (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) |
|
Date: March 23rd, 2018 3:13 PM Author: wild business firm love of her life 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) |
|
Date: September 30th, 2018 10:17 PM Author: Sienna meetinghouse friendly grandma (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#36929914) |
|
Date: September 30th, 2018 10:21 PM Author: pearl blathering indian lodge A lot of Boomers are rich, news at 11. (http://www.autoadmit.com/thread.php?thread_id=3926199&forum_id=2#36929939) |