Jump to content

net worth and age


Guest

Recommended Posts

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.

Link to comment
Share on other sites

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.

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
×
×
  • Create New...