WEALTH
The Awful Truth About The Wealthy 5 Percenters
Lies, damn lies, and statistics
According to some 2023 data I found today, people 65 and older in the United States have an average net worth of over a million dollars. A million dollars in net worth puts you in the top 5%, by the way. Two mill slides you into 2% and ten means you are a one percenter.
Imagine a Right-leaning politician looking at increasing Social Security payments while chewing on those numbers. Heck, seniors are millionaires — No handouts for them!
You know what net worth is, right? It’s the sum of all your assets minus all your liabilities. It’s your home if you own one, your car, your stocks, your 401K, your savings — everything you own minus debts like mortgages and credit cards.
I bet you also know about averages, and I hope that politician does too. If I have ten neighbors each having 10 mill in net assets and ninety with zero, the average is one million. If you can’t do math, trust me.
