Zambroski Posted February 12, 2020 Share Posted February 12, 2020 Just now, Angry ginger said: we already bailed enough irresponsible people out, we certainly don;t need to make college free. if you made good choices you should easily be able to pay back your student loans. if you didn't, well fuck you feel free to keep working at Starbucks with your womens study degree buried in debt. We need to address college costs- it needs to start with the cost of tuition not bailing people out of their idiocy. Bingo! (Even though you responded to a moron who doesn't understand it anyway.) Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted February 12, 2020 Platinum Contributing Member Share Posted February 12, 2020 21 hours ago, Mainecat said: U.S. Household Debt Exceeds $14 Trillion for the First Time Source: Yahoo Americans increased their borrowing for the 22nd straight quarter as more households took out loans to buy homes or refinance existing mortgages, according to a report released today from the Federal Reserve Bank of New York. Total debt for people ages 18 to 29 rose to a record $1.04 trillion. Student debt increased to $1.51 trillion from $1.46 trillion at the end of 2018. More than $100 billion in student debt is held by those age 60 and over. Auto loans rose to $1.33 trillion, while credit card debt rose to a record $930 billion. <snip> Almost 5% of auto loans are 90 days of more delinquent. This is the highest percentage since the third quarter of 2011. Credit card delinquencies rose to 8.36% an 18-month high. Read more: https://finance.yahoo.com/news/u-household-debt-exceeds-14-160303784.html Meanwhile total U.S. debt as a percentage of GDP rose to 5.1% last year, the highest it's been since the end of the Republican Great Recession, up 34% from the previous year, which was up from the year before that. All under Republican fiscal policy, supposedly advertised fiscal conservative policy. NOT! And the average net worth is … A household in the U.S. has an average net worth of $692,100, according to the most recent data from the Federal Reserve's Survey of Consumer Finances.Jan 23, 2020 https://www.marketwatch.com/story/whats-your-net-worth-and-how-do-you-compare-to-others-2018-09-24 Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted February 12, 2020 Share Posted February 12, 2020 5 minutes ago, Highmark said: And the average net worth is … A household in the U.S. has an average net worth of $692,100, according to the most recent data from the Federal Reserve's Survey of Consumer Finances.Jan 23, 2020 https://www.marketwatch.com/story/whats-your-net-worth-and-how-do-you-compare-to-others-2018-09-24 The median is pretty sad. Median and average net worth by age Under 35: Median net worth: $11,100 (average net worth: $76,200). 35-44: $59,800 ($288,700). 45-54: $124,200 ($727,500). 55-64: $187,300 ($1,167,400). 65-74: $224,100 ($1,066,000). 75+: $264,800 ($1,067,000). Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted February 12, 2020 Share Posted February 12, 2020 5 minutes ago, Highmark said: And the average net worth is … A household in the U.S. has an average net worth of $692,100, according to the most recent data from the Federal Reserve's Survey of Consumer Finances.Jan 23, 2020 https://www.marketwatch.com/story/whats-your-net-worth-and-how-do-you-compare-to-others-2018-09-24 median is a far more important number Shocked by that figure? That’s because the average (aka the “mean”) is skewed by the nation’s super wealthy. The median net worth of the average U.S. household is $97,300. Median is the middle point where half the households have more and half have less. That means the median figure may be a better indicator of where you stand relative to your friends and neighbors. But the overall figures are just one indicator. There are many other ways to slice net worth figures published in the 2016 survey. Let’s start with age: Median and average net worth by age Under 35: Median net worth: $11,100 (average net worth: $76,200). 35-44: $59,800 ($288,700). 45-54: $124,200 ($727,500). 55-64: $187,300 ($1,167,400). 65-74: $224,100 ($1,066,000). 75+: $264,800 ($1,067,000). Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted February 12, 2020 Platinum Contributing Member Share Posted February 12, 2020 Just now, ArcticCrusher said: The median is pretty sad. Median and average net worth by age Under 35: Median net worth: $11,100 (average net worth: $76,200). 35-44: $59,800 ($288,700). 45-54: $124,200 ($727,500). 55-64: $187,300 ($1,167,400). 65-74: $224,100 ($1,066,000). 75+: $264,800 ($1,067,000). Just now, Angry ginger said: median is a far more important number Shocked by that figure? That’s because the average (aka the “mean”) is skewed by the nation’s super wealthy. The median net worth of the average U.S. household is $97,300. Median is the middle point where half the households have more and half have less. That means the median figure may be a better indicator of where you stand relative to your friends and neighbors. But the overall figures are just one indicator. There are many other ways to slice net worth figures published in the 2016 survey. Let’s start with age: Median and average net worth by age Under 35: Median net worth: $11,100 (average net worth: $76,200). 35-44: $59,800 ($288,700). 45-54: $124,200 ($727,500). 55-64: $187,300 ($1,167,400). 65-74: $224,100 ($1,066,000). 75+: $264,800 ($1,067,000). Agreed however do these figures take into account SS or pensions? Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted February 12, 2020 Share Posted February 12, 2020 1 minute ago, ArcticCrusher said: The median is pretty sad. Median and average net worth by age Under 35: Median net worth: $11,100 (average net worth: $76,200). 35-44: $59,800 ($288,700). 45-54: $124,200 ($727,500). 55-64: $187,300 ($1,167,400). 65-74: $224,100 ($1,066,000). 75+: $264,800 ($1,067,000). and why we need safety nets for people cause there is no way 200k in net worths enough to retire on 1 Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted February 12, 2020 Share Posted February 12, 2020 Just now, Highmark said: Agreed however do these figures take into account SS or pensions? SS no as that has no cash value- pensions i would think it would depend on the type of pension. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted February 12, 2020 Platinum Contributing Member Share Posted February 12, 2020 Just now, Angry ginger said: SS no as that has no cash value- pensions i would think it would depend on the type of pension. I know which is sad. Pay in that much all your life too. Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted February 12, 2020 Share Posted February 12, 2020 1 minute ago, Highmark said: I know which is sad. Pay in that much all your life too. i've maxed SS for 20 of the last 25 years. it is what it is. People need a safety net and we all need to pay for it. I'm just glad there is a max limit although i think that disappears sometime soon. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted February 12, 2020 Platinum Contributing Member Share Posted February 12, 2020 1 minute ago, Angry ginger said: i've maxed SS for 20 of the last 25 years. it is what it is. People need a safety net and we all need to pay for it. I'm just glad there is a max limit although i think that disappears sometime soon. It should go up $100 or $200 a yr. But it should not disapear Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted February 12, 2020 Platinum Contributing Member Share Posted February 12, 2020 3 minutes ago, Angry ginger said: i've maxed SS for 20 of the last 25 years. it is what it is. People need a safety net and we all need to pay for it. I'm just glad there is a max limit although i think that disappears sometime soon. Maybe with the left in control. I'll starting pulling an MC if they go down that road. Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted February 12, 2020 Share Posted February 12, 2020 2 minutes ago, steve from amherst said: It should go up $100 or $200 a yr. But it should not disapear i am referring to their being a max income for paying the tax. I think it goes to all income at some point. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted February 12, 2020 Platinum Contributing Member Share Posted February 12, 2020 Just now, Angry ginger said: i am referring to their being a max income for paying the tax. I think it goes to all income at some point. But it shouldn't. I agree with the need for SS. I don't agree with not having a cap. Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted February 12, 2020 Share Posted February 12, 2020 1 minute ago, steve from amherst said: But it shouldn't. I agree with the need for SS. I don't agree with not having a cap. or if your raising the cap raise the benefit. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted February 12, 2020 Platinum Contributing Member Share Posted February 12, 2020 2 minutes ago, Angry ginger said: or if your raising the cap raise the benefit. Never happen. Those people maxing out are getting fucked the way it is now. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted February 12, 2020 Share Posted February 12, 2020 24 minutes ago, Highmark said: Agreed however do these figures take into account SS or pensions? I doubt it. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted February 12, 2020 Platinum Contributing Member Share Posted February 12, 2020 1 hour ago, Angry ginger said: or if your raising the cap raise the benefit. yep Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted February 12, 2020 Platinum Contributing Member Share Posted February 12, 2020 1 hour ago, Highmark said: Never happen. Those people maxing out are getting fucked the way it is now. fuck em back , live long. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted February 12, 2020 Platinum Contributing Member Share Posted February 12, 2020 Just now, steve from amherst said: fuck em back , live long. When you got heart issues on one side and cancer on the other sometimes its out of your control. My wife however might live until she's 100. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted February 12, 2020 Platinum Contributing Member Share Posted February 12, 2020 1 minute ago, Highmark said: When you got heart issues on one side and cancer on the other sometimes its out of your control. My wife however might live until she's 100. My grandmother made 104 . She is why SS is broke,lol Quote Link to comment Share on other sites More sharing options...
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