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[Household] Net Worth in U.S. At All-Time High [$98.75 Trillion]

Hamartia Antidote

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Note that I use "big" instead of big, the problem with the US is, besides the jew bankers, most people in the US could only afford "big" house in remote region.
LOL! What's your definition of remote? You simply don't understand that most high-rise cities in the US stopped expanding their borders over 75 years ago when a switch was made to suburbanization. So these "big" houses can easily be within 8 miles of a city center. Whereas in China these areas would most likely be filled with high-rise units as your cities are still in the expanding phase. People in the US can even hop on a bike and ride to the center of a city.

The total of our top 10 largest populated cities isn't even 6% of our population. We've all moved to these "big" houses in the suburbs. Even in cities (other than NYC) most people live in houses...they just don't have as much land as they are crowded together.
 
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TruthSeeker

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My question about stock market wealth is about its role as a true store of value. It is only a dependable store of wealth if you "cash it in" to real assets, like property or gold, when most other stock market investors are still holding their shares. It is not a dependable store of value in times of economic crisis.
 

Hamartia Antidote

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My question about stock market wealth is about its role as a true store of value. It is only a dependable store of wealth if you "cash it in" to real assets, like property or gold, when most other stock market investors are still holding their shares. It is not a dependable store of value in times of economic crisis.
True, but you can claim property is precarious because you can't sell parts of it. So you have a far far limited number of buyers who can meet your price. The upside of it is you can actually use it daily vs stocks and gold which just sit in a box somewhere doing nothing.
 

Jlaw

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Oh LOL! You don't know anything about the US!

Almost the entire population of the US lives in single family homes. 2500sq ft is not considered large. If you came over here you can walk around many areas where the homes are all in the 4500 range and they are within 10 miles of a city center. You don't realize our cities are relatively small. They stopped expanding over 75 years ago. So people in areas like this are probably far closer to the center of a city than you probably are.

I know you are worried about security in China but over here we don't have walls around our houses or bars on the windows (unless you are in a poor section of a city). Even our mailboxes are unlocked and on the side of the road. If we were worried about thieves why would we be doing this:

View attachment 460980
Somebody can easily drive by and grab your mail. But it doesn't happen often because most of the crime is in poor areas of a city. Outside these crime areas many people don't even lock their house doors.

Of course you can walk around at 2am with no problem. Why would anybody bother you? I wouldn't walk around an inner city neighborhood.
IMG_20180324_114359.png
 

gambit

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Oh LOL! You don't know anything about the US!

Almost the entire population of the US lives in single family homes. 2500sq ft is not considered large. If you came over here you can walk around many areas where the homes are all in the 4500 range and they are within 10 miles of a city center. You don't realize our cities are relatively small. They stopped expanding over 75 years ago. So people in areas like this are probably far closer to the center of a city than you probably are.
These guys are comfortable living in their apartment prison cells in China so they think that everyone must be like them.

http://www.chinahush.com/2010/10/19/a-true-dwelling-in-shanghai/

Okay...Maybe not THAT bad for them...:lol:

The bottom line is they do not know what it is like to live in a real house. They have no frame of reference. So they have to talk up their current living conditions -- prison cells.
 

Skull and Bones

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in u.s middle class is shrinking and difference between rich and poor is incrzceasing.i have friend from u.s living in washington seatle who is jobless and has no enough money to buy 20 usd itune card and two days ago asking me to buy him itune card
If one is jobless, then he shouldn’t be spending money on itunes cards.
 

Hamartia Antidote

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These guys are comfortable living in their apartment prison cells in China so they think that everyone must be like them.

http://www.chinahush.com/2010/10/19/a-true-dwelling-in-shanghai/

Okay...Maybe not THAT bad for them...:lol:

The bottom line is they do not know what it is like to live in a real house. They have no frame of reference. So they have to talk up their current living conditions -- prison cells.
Well remember over 120 years ago Americans thought moving out of their handbuilt farmhouses into modern cities designed by professional builders and working some industrial/corporate job instead of farming was the thing to do.

That worked out great 120 years ago when we were poor.. but now instead of sharing a castle...we can afford to have/build our own.





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Jlaw

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My question about stock market wealth is about its role as a true store of value. It is only a dependable store of wealth if you "cash it in" to real assets, like property or gold, when most other stock market investors are still holding their shares. It is not a dependable store of value in times of economic crisis.
Only 10% of individual investors make money in the market on a consistent basis
 

mike2000 is back

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Wait till there is a stock market collapse in the US.
I have been hearing this U.S will soon collapse for even longer than China will soon collapse. Yet they are still there and growing. Please you guys should just give up on this

A Russian living in poland making fun of the U.S about poverty /underdevelopment? LMAO:rofl: Dude with all due respect its like someone from Malaysia/Vietnam making fun of Japan. :lol:.
You can't compare a developing country with a fully developed country. You are still on your way there. So chill. :D
 

Hamartia Antidote

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https://www.investopedia.com/articles/personal-finance/050615/are-you-top-one-percent-world.asp

Are You in the Top One Percent of the World?





The growth of income inequality has long been a hot topic around the globe, but it wasn't until the “Occupy” movement that the amount of wealth concentrated in the top 1% of society received so much attention.

Indeed, it's an incredibly powerful club. According to Oxfam, a leading poverty-fighting organization, eight men own as much wealth as the 3.6 billion people who make up the poorest in the world, and one in ten people survive on less than $2 per day. Still, the top 1% consists of a lot more than just eight people.


This raises an interesting question: who exactly are the 1%? The surprising answer: if you’re an American, you don’t have to even be close to being uber-rich to make the list.

Ranking by Income
According to the Global Rich List, a website that brings awareness to worldwide income disparities, an income of $32,400 a year will allow you to make the cut. $32,400 amounts to roughly:

  • 30,250 Euros
  • 2 million Indian rupees, or
  • 223,000 Chinese yuan
So if you’re an accountant, a registered nurse or even an elementary school teacher, congratulations. The average wage for any of these careers falls well within the top 1% worldwide.

Figure 1. The percentage of global wealth owned by the top 1% surpassed 50% as of 2016.

Source: Oxfam

Ranking by Wealth
The threshold is significantly higher if you look at the top percentile by wealth instead of income. To reach that status, you’d have to possess $770,000 in net worth, which includes everything from the equity in your home to the value of your investments. That’s equal to roughly:

  • 720,000 Euros
  • 49.8 million Indian rupees or
  • 5.3 million Chinese yuan
Americans rank extremely high in terms of household wages – sixth worldwide, according to a 2013 Gallup survey – but not as high when it comes to median wealth. In fact, the 2017 Credit Suisse Wealth Report ranks the U.S. just 26th by this measure.

There are a number of reasons for this disparity. One is that U.S. consumers tend to rely on credit more than their counterparts in, say, Europe. Credit card debt diminishes net wealth. The typical U.S. household carries a whopping $134,643 in debt, according to the most recent Census Bureau data.

Even so, many middle-class Americans who have spent years paying down their mortgages and saving for retirement belong to the upper echelon of the world's wealthy.

Pervasiveness of Poverty
The bar to enter the top 1% wouldn't be this low were it not for the extreme poverty that so much of the globe endures. For example, an adult in India has a median wealth of $608 in total wealth, according to a report by Credit Suisse. The average wealth of adults in Africa is even lower at just $411.

Compare that to the wealth of $49,460 for the average adult living in North America and $11,319 for Europeans. Now, the median wealth represents what most people have, the average will be much higher especially in countries where assets are so skewed toward the ultra-rich, like the United States. The average wealth of the U.S. wealthy is $344,692 per adult – this shows how much the few on top have, not just in the U.S., but globally.

Making 1% Ranks in U.S.
Who constitutes the 1% if you just look at the U.S.? Not surprisingly, it takes a massively higher income to crack the top percentile of wage earners: you’d have to make $450,000 in adjusted gross income (AGI) to make the cut.

And to rank among the highest 1% of Americans by wealth? That requires net assets of more than $7 million, based on the latest Federal Reserve figures.

The Bottom Line
The term “top 1%” of global income may sound like an exclusive club, but it’s one to which millions of Americans belong. It’s a reminder of just how prosperous developed countries are compared to the vast majority of other people who share our planet.
 

Mista

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Different people have different preference for different residential densities. I grew up in a dense city so maybe I'm biased towards higher density which provides greater convenience and vibrancy. I just like the freedom of being able to walk around to get your needs without a car.

My family of four is currently residing in a 127 sqm flat, and I think that's sufficient space for us to place our furnitures. TVs, pianos, personal wardrobes, etc. Within 400m radius there are parks, schools, food (cuisine from different countries and American fast-food restaurants), barbers, convenience stores, gyms etc. And I live one of the towns furthest away from the Downtown area.

What I personally feel has enhanced my quality of life tangibly in recent years is the opening of underground metro 5mins walk away and an all-in-one lifestyle hub nearby. Suburban Americans may pity me for not having a personal BBQ pit or a personal lawn, but I couldn't really care less about these things because I'm very sure these things add little value to my quality of life. :lol:

I visited my cousin who's residing in Melbourne. The typical housing there is similar to America's suburbs and I find it extremely boring. Yes their homes are big, but it's very car-centric and inconvenient. No thanks, give me a dense and vibrant city like Tokyo or Seoul anyday.
 

Hamartia Antidote

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https://www.thinkadvisor.com/2018/01/02/heres-what-the-27-trillion-us-retirement-industry-

Here’s What the $27 Trillion US Retirement Industry Looks Like



The U.S. retirement market was valued at $27.2 trillion at the end of the third quarter this year, according to the Investment Company Institute.

That marked a full $1 trillion gain from the end of the second quarter in 2017, and nearly $10 trillion more than at the end of 2010.

Government and private sector-sponsored defined benefit plans, defined contribution plans, IRAs, and annuity reserves are counted by the ICI. Social Security benefits are not.

IRAs held $8.6 trillion at the end of the third quarter, representing the largest swath of the retirement market, an increase of 2.7% from the end of the second quarter, and up from $5 trillion in 2010.

About half of IRA assets are held in mutual funds, with $2.3 trillion being managed in equity funds.

Defined contribution plans held 7.7 trillion, up 2.5% from the second quarter, for an increase of nearly $3 trillion since 2010. 401(k) plans held $5.3 trillion.

Mutual funds accounted for $3.5 trillion, or 65% of the assets in 401(k) plans, with $2.1 trillion held in equity funds.

Strong equity markets have continued to stretch total retirement savings assets into new record territory. The Dow Jones Stock Exchange is up more than 25% in 2017.

Target-date funds reached $1.1 trillion in assets by the end of the third quarter, up 5% from the previous quarter.

About 67% of TDF assets are held in defined contribution plans, and another 20% held in IRAs.

The $708 billion in TDFs held in DC plans represents perhaps the most stratospheric assent for any investment vehicle in retirement plans. In 2010, TDFs in DC plans held just $240 billion.

Private sector defined benefit plans held $3.1 trillion at the end of third quarter.

In 2000, private sector defined benefits accounted for 17% of what was then an $11.6 trillion retirement market.

Today, the plans account for about 11% of total retirement assets.

As a percentage of total assets, defined contribution plans have increased marginally over the past two decades.

In 2000, DC plans accounted for 26% of what was then an $11.6 trillion retirement market.

Today DC plans account for 28% of the $27.2 trillion retirement market.
 

wiseone2

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I thought @Hamartia Antidote said Americans are living in bigger houses :lol:
According to my finding, tiny houses are gaining popularity and the increase of homeless people are ignored on the news. Somewhere in the future the bubble gonna burst :D
it is a mixed bag ...
the truth is that USA is a large diverse country

very poor care paid to people with mental problems (the US dont provide free care for people with mental problems)
people with mental problems have the best care in USA
the two catches - can you afford you ? do you want to be treated ? (USA allows people with mental problems to refuse treatment as long as they are not a threat to society)
 

Dalit

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Arrogant American pigs. They wonder why the world hates 'em.

It is funny how they brag about being the greatest in everything. LOL at their debt.
 

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