net worth and age

[Liberty]

Thanks for explaining how I was wrong, guys. It's how we learn. I somehow got into my head that they just sliced the pie in 100 slices and then divided the sums in each by the numbers of individuals in each. Cheers!

 

Well, my reply "I dont think this is the case" because not everybody understands this, and its possible that the writers of these articles misrepresent the word "percentile."

 

That said, my explanation is consistent with the statistical definition of percentiles, and how academics have used the term in context of wealth/income.

 

Well, there's probably other reasons to suspect that the original article is BS, but I didn't really focus on that in my post, so fair's fair.

[A_Hamilton]

watsa_is_a_randian_hero explained it well.

 

Anecdotally, whenever I looked where my earnings and net worth fall, the numbers were pretty consistent with https://dqydj.com/net-worth-by-age-calculator-united-states/ and https://dqydj.com/the-net-worth-of-different-age-groups-in-america/ numbers. Although it's likely that all the numbers are coming from the same single source anyway.

It all comes from the Federal Reserve's Survey of Consumer Finance. These guys extrapolate the data to get to percentiles. It's pretty crude.

[Jurgis]

it's probably counterproductive to focus on what random people supposedly own or earn at what age.

 

He who dies with the most toys wins!  8)

 

Apropos: https://www.bloomberg.com/news/articles/2018-05-23/bankers-don-t-think-you-re-rich-unless-you-have-25-million