Senior Citizens net worth

» Site Navigation
Home Page The Villages Maps The Villages Activities The Villages Clubs The Villages Book Healthcare Rentals Real Estate Section Classified Section The Villages Directory Home Improvement Site Guidelines Advertising Info Register Now Video Tutorials Frequently Asked Questions
» Newsletter Signup
» Premium Tower
» Advertisements
» Trending News
» Tower Sponsors




















» Premium Sponsors
» Banner Sponsors
» Advertisements
Closed Thread
Thread Tools
  #16  
Old 11-27-2019, 08:54 AM
toeser toeser is offline
Senior Member
Join Date: Feb 2015
Posts: 184
Thanks: 474
Thanked 176 Times in 72 Posts
Default Sounds about right

My net worth is probably around 200 times what it was at age 35, so 47 sounds more than reasonable. It's called compounding.
  #17  
Old 11-27-2019, 09:02 AM
dewilson58's Avatar
dewilson58 dewilson58 is offline
Sage
Join Date: May 2013
Location: South of 466a, if you don't like me.......I live in Orlando.
Posts: 6,259
Thanks: 245
Thanked 2,567 Times in 949 Posts
Default

Quote:
Originally Posted by toeser View Post
My net worth is probably around 200 times what it was at age 35, so 47 sounds more than reasonable. It's called compounding.



30 years of compounding will get you about 20 times
__________________
Mr. Helpful (he'sssssss bac)
  #18  
Old 11-27-2019, 09:22 AM
retiredguy123 retiredguy123 is offline
Sage
Join Date: Feb 2016
Posts: 4,676
Thanks: 284
Thanked 2,541 Times in 945 Posts
Default

Quote:
Originally Posted by toeser View Post
My net worth is probably around 200 times what it was at age 35, so 47 sounds more than reasonable. It's called compounding.
47 times is nowhere near reasonable or accurate. See Post No. 4 for the current Census Bureau data on household wealth at all ages.
  #19  
Old 11-27-2019, 09:52 AM
Polar Bear's Avatar
Polar Bear Polar Bear is offline
Sage
Join Date: Jun 2012
Posts: 4,350
Thanks: 135
Thanked 530 Times in 223 Posts
Default

I've often wondered how (or 'if') pensions and such are included in any sort of net worth calculation. I know it typically disappears upon death, but it still has a lot of value during one's life.
  #20  
Old 11-27-2019, 09:54 AM
graciegirl's Avatar
graciegirl graciegirl is offline
Sage
Join Date: Mar 2008
Posts: 38,157
Thanks: 2,850
Thanked 2,422 Times in 886 Posts
Send a message via AIM to graciegirl
Default

Quote:
Originally Posted by blueash View Post
Therein is an important point about a huge difference in the American economy in the last 40 - 50 years. There is absolutely no way that a couple working mediocre jobs and part time jobs can afford a house, much less pay it off in 4 years. Home ownership used to be a major contributor to upward mobility. It no longer is an option for those without a good paying job, or two good paying jobs.
And what is the answer? Perhaps a long term relationship of two people with mediocre jobs not wasting money, saving some money every week, knowing how to cook and sew and repair and paint and restore and reuse and choosing to not buy things they don't need. So much of having a "good paying job" is really the level of intelligence we are born with, not education as some want us to believe. It is just pure cussed luck if we are born smart enough to be a physician or an engineer or a bio-scientist. No one on this earth can raise their intelligence score, but they can use what they are born with to do the best they can. I believe that many are not even trying and looking to others to make things easy. Not all. Some are indeed born handicapped and permanently in need of our help and caring support, but the rest of us? Well dang it, just work harder and be careful with your money and you can end up here in The Villages with the "big dogs".
__________________
It is better to laugh than to cry.
  #21  
Old 11-27-2019, 10:20 AM
rmd2 rmd2 is offline
Senior Member
Join Date: Dec 2009
Posts: 310
Thanks: 3,187
Thanked 153 Times in 103 Posts
Default

Quote:
Originally Posted by rjm1cc View Post
Where did the census bureau get this information? As far as I know no governmental body knows my net worth. The IRS knows my taxable income but the census bureau should not be able to access my IRS information.
This is why I don't give the Census Bureau any information at all. I don't answer any questions from them. Too much data digging of my personal information.
  #22  
Old 11-27-2019, 10:43 AM
OhioBuckeye OhioBuckeye is offline
Veteran member
Join Date: Sep 2015
Posts: 864
Thanks: 0
Thanked 127 Times in 99 Posts
Default Ohiobuckeye

Quote:
Originally Posted by Liz22 View Post
This is why I don't give the Census Bureau any information at all. I don't answer any questions from them. Too much data digging of my personal information.
Hum, I've never ever got a question from the IRS that I know of. I would think if someone is getting questions from the IRS they must either have a lot of money or have been audited. If I would get a questionaire from the IRS I would think you would have to answer their questions since they are part of the govt. But me myself I wouldn't answer them unless I called them first. Letters & emails I was told to never answer these!
  #23  
Old 11-27-2019, 10:47 AM
JeanW JeanW is offline
Junior Member
Join Date: Jan 2018
Posts: 1
Thanks: 0
Thanked 0 Times in 0 Posts
Default

The data mentioned here is extrapolated from the CPS 2019 Annual Social and Economic Supplement which asked participants to report their family income for 2018. About 60,000 households are selected for the CPS each month, and it is a voluntary survey. Participation in the CPS is important because the answers represent thousands of other addresses and people. The information is collected by interviewers using a computer-assisted survey instrument, through personal visit and telephone interviews. This is a significant way for the OBM to inform the nation of its social and economic well-being. Well-designed empirical research instruments are crucial in identifying the status of issues facing our country based on factual information. Participation is, of course, voluntary.
  #24  
Old 11-27-2019, 11:08 AM
Topspinmo's Avatar
Topspinmo Topspinmo is offline
Sage
Join Date: Dec 2012
Location: Oregon Mo. St Joesph mo, ft worth tx, Omaha neb., upper heyford UK, Clovis NM, OKC.
Posts: 6,085
Thanks: 2,125
Thanked 1,059 Times in 529 Posts
Default

Quote:
Originally Posted by Chatbrat View Post
According a report released by the census bureau on Mon--the average household headed by a person over 65 has 47 times more wealth than a household headed by a 35 year old

Makes you wonder who should be getting age related discounts--looks like fixed income , won't float
So, why do you take the discounts? Reason they are more wealthy the WORKED longer and some saved their money. Most 1%er have scheme going praying on the poor/middle class.
  #25  
Old 11-27-2019, 11:11 AM
Topspinmo's Avatar
Topspinmo Topspinmo is offline
Sage
Join Date: Dec 2012
Location: Oregon Mo. St Joesph mo, ft worth tx, Omaha neb., upper heyford UK, Clovis NM, OKC.
Posts: 6,085
Thanks: 2,125
Thanked 1,059 Times in 529 Posts
Default

Quote:
Originally Posted by vintageogauge View Post
What exactly do you mean by "too many baby boomers inherited a lot"? I didn't inherit anything, nor did my wife. Although I do know boomers that had inheritances, most of the people I know got very little if anything. We bought our first house when I was 22, not an expensive house, and paid it off when I was 26 with no help from my family or friends. I worked a mediocre job full time back then, I also had a part time job and did farm hand work on Saturdays, my wife had a part time job and took care of our daughter. I can still remember when I was very young my parents celebrating that they paid off their mortgage and they did it the same way we did. My parents savings went to nursing homes and there was nothing left at the end. My father struggled with Alzheimers for more than a decade and would not take financial advice from anyone regarding protecting his assets. Unfortunate but that was his way, his way or no way.
Sorry, but it true many baby boomer don’t have clue what hard times are.
  #26  
Old 11-27-2019, 11:13 AM
graciegirl's Avatar
graciegirl graciegirl is offline
Sage
Join Date: Mar 2008
Posts: 38,157
Thanks: 2,850
Thanked 2,422 Times in 886 Posts
Send a message via AIM to graciegirl
Default

Quote:
Originally Posted by Liz22 View Post
This is why I don't give the Census Bureau any information at all. I don't answer any questions from them. Too much data digging of my personal information.
Dr. Phil;

"Those who have nothing to hide, hide nothing".

I don't think many people obsess over this.
__________________
It is better to laugh than to cry.
  #27  
Old 11-27-2019, 11:52 AM
champion6's Avatar
champion6 champion6 is offline
Sage
Join Date: Jan 2009
Location: Tamarind Grove
Posts: 4,934
Thanks: 1
Thanked 331 Times in 167 Posts
Default

Quote:
Originally Posted by JeanW View Post
The data mentioned here is extrapolated from the CPS 2019 Annual Social and Economic Supplement which asked participants to report their family income for 2018. About 60,000 households are selected for the CPS each month, and it is a voluntary survey. Participation in the CPS is important because the answers represent thousands of other addresses and people. The information is collected by interviewers using a computer-assisted survey instrument, through personal visit and telephone interviews. This is a significant way for the OBM to inform the nation of its social and economic well-being. Well-designed empirical research instruments are crucial in identifying the status of issues facing our country based on factual information. Participation is, of course, voluntary.
It is difficult to understand how net worth can be extrapolated from net income.
  #28  
Old 11-27-2019, 01:08 PM
Two Bills Two Bills is offline
Platinum member
Join Date: Aug 2016
Posts: 1,934
Thanks: 372
Thanked 1,702 Times in 614 Posts
Default

If I was worth 47 time what I had at 35, I would be now worth about $50!
  #29  
Old 11-27-2019, 01:16 PM
retiredguy123 retiredguy123 is offline
Sage
Join Date: Feb 2016
Posts: 4,676
Thanks: 284
Thanked 2,541 Times in 945 Posts
Default

Quote:
Originally Posted by Two Bills View Post
If I was worth 47 time what I had at 35, I would be now worth about $50!
So, you had $1.06 when you were 35. At least you had a positive net worth.
  #30  
Old 11-27-2019, 01:24 PM
Polar Bear's Avatar
Polar Bear Polar Bear is offline
Sage
Join Date: Jun 2012
Posts: 4,350
Thanks: 135
Thanked 530 Times in 223 Posts
Default

Quote:
Originally Posted by graciegirl View Post
Dr. Phil;

"Those who have nothing to hide, hide nothing"...
Sorry, gg, but that was before the internet. Heheh.
Closed Thread

Tags
headed, household, makes, year, fixed

Thread Tools

You are viewing a new design of the TOTV site. Click here to revert to the old version.

All times are GMT -5. The time now is 12:09 AM.