patrick.net

Gives you a age twist to the data and break down on net assets to debt

Strategist says

Hey, did they strip search you?

No but they did my wife, put her in a room in Dubai for 20 mins, I have never gotten searched once post 9/11 my wife 4 times and she is as white as they come. :-)

Strategist says

Logan Mohtashami says

Hey, did they strip search you?

The face he made when Dr. Jellyfinger achieved deep 9 insertion.

Logan Mohtashami says

Gives you a age twist to the data and break down on net assets to debt

That is quite interesting. Never saw the curve over lifetime before.

Logan Mohtashami says

NY Fed analysis, only 36% of negative wealth homeowners had negative housing equity:

"ONLY" 36%, compared with 7% for the entire population? That is highly significant!

Ironman says

$1000 in an emergency.

Those are worthless surveys

However, this data line looks off to me too if we are really counting everyone

Ironman says

I'd like to see where they pulled the data for that chart. I don't believe it to be that high for those age brackets.

I mean really, how many 30 year olds do you know today that have a $100K net worth? Plus, there are articles after articles lately stating that 2/3rds of the population can't come up with $1000 in an emergency.

Could it be that the 1% are skewing the averages?

Waitup says

Could it be that the 1% are skewing the averages?

I would say 30% skew the 70% big time

just any guy says

Strategist says

I'm pretty sure you could have purchased a home 4 years ago at a bargain price but did not.

False. We didn't live in San Diego 4 years ago. Because of not knowing where my job would have ended up, I never felt stable enough to buy a home. There were a few times I could've bought right when I moved somewhere, but I would've lost money because of having to pick up and move.

i would always do a rent vs buy analysis. if the rent covers all expenses, what is there to be afraid? if not, wait.

i personally believe Socal is in a small bubble. prices will eventually go down.

Renter economics is so much different than home owners economics, especially now when people have to have the capability to own the debt.

For the most part, people rent because they can't afford to own a home. 20 years of doing this that is the data out take I have seen from people's financials.

Ironman says

Why?

Less than 5,000 people at best sample

To me you have to take a pool of at least 1,000,000 people then make it an age proper poll, ages 28-45 would be a good age group and make it either primary wage earner or family.

A high school drop out age 28-45 could fit that model easily

Anyone with education or a trade show skill set it would be very hard to less than $1,000 in saving.

Some of these small samples would = that a home owner with 200K of equity is in that group

Also, I would take all liquid assets into the equation not just a saving account.

A lot things that are worthless about those polls

On another note

Top 3 years for light vehicle sales:
1) 2015 17.396 million
2) 2000 17.350
3) 2001 17.122

2016 looks like to be all time record in car sales

At this point, only the Chinese fundamentals matter...and they are awful. It is a textbook bubble economy. Even after a recent correction the Shanghai real estate index is up 700 percent over past 15 years. A price per square foot increase of 100 percent over only the past six years. It's only a matter of time until a blood bath, and when it goes, there will be a rapid decrease in demand for residential real estate down under, over the pond, up yonder, and under your feet.

Multiply the impact of uncertainty in short-term real-estate based revenue streams by 500 percent to approximate the chaos in the derivatives markets. There is simply no fundamental justification for the Chinese Bubble phenomenon. You see it in luxury items as well. (there's a shorting stock tip for you)

Ironman says

upper 10% of income,

Even 10% top earning income, 98K for 30 year seems high, so I would imagine the top 3% screws the top 10% number a lot on a 3 year moving average

0.01% is much much higher than the 1%

If anyone came in on my WTW trade take some off the table today

How to join the upper middle class:

1) Max out your 401k and/or IRA as soon as possible. Try and save an equal or greater amount in after-tax investments as well.

2) Think about the proper asset allocation in relation to personal risk. Your assets should be deployed in a way that aims to beat the risk-free rate of return by at least 2-3X. Stay diversified and never confuse brains with a bull market!

3) Voraciously read as much as possible about wealth management, investing, retirement, taxes, and other issues. Subscribe to Financial Samurai and other personal finance sites written by finance veterans. Don’t be afraid to seek professional financial help too.

4) Move to a part of the country where there is opportunity. Give yourself a chance to get financially lucky by coming to areas where there is robust employment and brain share. It used to take two months to cross the country. Now it only takes five hours by plane.

5) Buy a home that you can afford and own it for as long as possible. You’ll wake up 20 years from now and thank yourself for having something to show for all your monthly payments. Forced savings through principal payments may sound rudimentary, but most people don’t have enough discipline to save on a regular basis.

6) Don’t be afraid to seek professional financial help if you’re lost. Put it this way. The more lost you are, the more bang for your buck you get hiring someone to give you advice or manage your money.

7) Make sure you are properly insured: health, life, auto, house, and umbrella policy. Any number of bad things can happen that can easily wipe away your net worth.

8) Work and invest for as long as possible. “Time in the market is more important than timing the market,” as the saying goes. Half the battle is just surviving through all the ups and downs, which is why consistent dollar cost

Ironman says

It appears it was definitely from a higher income group for sure, not the general population.

I will see if I can find the article for this to get their exact methodology, I like the chart for the curve of wealth per age.... winding down on assets as you get older ... fits into my demographic thesis that older people don't spend as much as they did hence making demographics (older) a deflationary economic reality