Senior Citizens net worth

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  #46  
Old 11-29-2019, 11:13 AM
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Quote:
Originally Posted by Topspinmo View Post
Most 1%er have scheme going praying on the poor/middle class.
Really????? Quite a generalization!!!

Like my father and brother, I don't know if I'm 1%, 2%, 5%, or 20%, but whatever it is, we all got there by getting educated, working hard, saving and investing wisely. I don't recall any "schemes" to "PREY" on the poor (praying, however, would be appropriate)
  #47  
Old 11-29-2019, 11:37 AM
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Probably quite a few 5%'ers, not sure how many 1%er's.





Net Worth Percentile
90% $1.1mil

95% $2.4mil

99% $10.4mil
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  #48  
Old 11-29-2019, 12:39 PM
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Originally Posted by dewilson58 View Post
Probably quite a few 5%'ers, not sure how many 1%er's.
l
And many already paid close to the same amount in taxes working 40+ years getting there...
  #49  
Old 11-29-2019, 01:29 PM
Luv2Bretired Luv2Bretired is offline
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Quote:
Originally Posted by dewilson58 View Post
Probably quite a few 5%'ers, not sure how many 1%er's.





Net Worth Percentile
90% $1.1mil

95% $2.4mil

99% $10.4mil
Within The Villages given their age range and financial ability to relocate, travel and have expensive hobbies possibly the top 5% are within the top 1%. I doubt many are within the 99.5 percentile which is something over what, $16 million. The 99.9 entry is at just over $43 million.

Last edited by Luv2Bretired; 11-29-2019 at 01:35 PM.
  #50  
Old 11-29-2019, 01:32 PM
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Originally Posted by rjm1cc View Post
I default to the old safe withdrawal rule of 4%. Thus the 12,000 per year is worth 300,000. Actually more if it pays for your lifetime and if it has a spouse payment after you die worth even more. I consider it a part of the bond portfolio in a balance portfolio so a rough estimate works for me.
The 4 percent rule doesn't work for a 70 year old. For a man, $12,000 x 13 years = $156,000 in total payments. Slightly higher for a woman.
  #51  
Old 11-30-2019, 09:53 AM
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Originally Posted by dewilson58 View Post
A $1,000/mth pension at age 70 is worth less than $150,000 NPV. Not a big number.
Well, maybe $150K is not a big number to you; congratulations. But the census bureau says the average net worth of a person 70-74 is 181,078. My point is that by including that $150K pension net present value in the net worth calculation makes a big difference. And it would, obviously.
  #52  
Old 11-30-2019, 10:50 AM
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Quote:
Originally Posted by collie1228 View Post
Well, maybe $150K is not a big number to you; congratulations. But the census bureau says the average net worth of a person 70-74 is 181,078. My point is that by including that $150K pension net present value in the net worth calculation makes a big difference. And it would, obviously.



I understand your point. Thank you.


Probably wouldn't change the report significantly.......that's why it's not a big number.
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  #53  
Old 11-30-2019, 11:19 AM
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Default Senior Citizens Net Worth.

I was told by a grandchild who makes more money than anyone in the whole family. She told me this very morning...

That the two senior citizens who live in our house are...…

Priceless.
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  #54  
Old 12-01-2019, 04:29 PM
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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
I spent my 35 year career in finiancial services and can assure you that this is nothing new . It has been this way since at least WWII .
  #55  
Old 12-04-2019, 10:10 AM
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When I was in my 20's, studying business in college, I learned that most of the wealth in the USA was held by its oldest citizens. At the time, being a young, dumb, left of center college student, I thought that was unfair and that something needed to change. Of course, now that I am a mature (old), right of center (realistic) retired guy, I understand why the wealth is in the hands of the older generation. Funny how our opinions change.
  #56  
Old 12-04-2019, 12:05 PM
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Older women may statistically be wealthier than older men, at least during their last years, as they tend to outlive their husbands.
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