WTF Avg. American has $75k in savings...

[SilentStalkr]

Trust your lying eyes not their lying statistics. Many of us have acquaintances from various levels of the financial ladder. Being that is generally the case, you will have some sense of who and how many have what. There will always be outliers. There are those that have great wealth and appear to have little. There are those that appear to have everything but their everything is actually a mound of debt.

$75,000. in savings is utter BS. The only number that counts is your/their balance sheet. That number only counts if it is after all taxes, liquidation costs, fees, penalties, market variations, projected market variations, etc., etc. Right now, I believe I'm going to be worth less tomorrow than I am today and I believe that will continue for a relatively short period of time.

The people that derived the number in the title of this post have no interest in conveying the truth to us. There only intent is to present a world that favors their image. You know it, I know it and they know it.

Trust your gut and trust your dog.

Unfortunately, my dogs are no longer with us.

 

[762libertarian]

Median is not the same as average. Could be that Elon and The German are skewing the results.

 

[earthtrekker1775]

I had a savings….then I joined the hide

But have you met St. Horta yet?

 

[TxWelder35]

And not a single Go Be Poor Somewhere Else yet. Surprised we made it to page 2

 

[Skeptic1]

It's just math. If you average in five or so billionaires who have 500 million in savings with 100 million people that have $6 in savings then the average goes up exponentially.

Like when you were in school. One zero on a test averaged in with 4 other test that have perfect scores and you have failed for the semester

 

[Eli17L]

Sounds like the gov needs to seize everyone's savings to spread it around for equity...
I don't know why else a ludicrous average would be put out there.

 

[MadDuner]

I would say the Feds story is bullshit.... like usual.

I know quite a few Americans - because I are one.
A whole bunch of them live paycheck to paycheck and only have a net worth of $75k.
The ones that are wealthy won't have their money idling in a savings account.
So where the Feds come up with this story is certainly suspect.