What is the average family net worth in the USA?

[cheetaman]

What is the average family net worth in the USA?

[iNow]

https://www.fool.com/retirement/2017/07/03/how-does-your-net-worth-compare-to-that-of-the-ave.aspx

Theres a neat invention. Few people have ever heard of it. You should ask Jeeves. It’s called google. 

[Moontanman]

Wait let me check my couch for change... 

[cheetaman]

I need $5,000,000 - $1,000,000,000 only.

Edited March 18, 2018 by cheetaman

[Endy0816]

11 hours ago, iNow said:

https://www.fool.com/retirement/2017/07/03/how-does-your-net-worth-compare-to-that-of-the-ave.aspx

Theres a neat invention. Few people have ever heard of it. You should ask Jeeves. It’s called google. 

I miss Jeeves :*(

10 hours ago, cheetaman said:

I need $5,000,000 - $1,000,000,000 only.

Most don't nearly have that much.

[Strange]

10 hours ago, cheetaman said:

I need $5,000,000 - $1,000,000,000 only.

Maybe you should try and reduce your outgoings. Buy a more economical car, downsize your home, shop at lower cost stores. Maybe get rid of the personal jet ...

[dimreepr]

11 hours ago, cheetaman said:

I need $5,000,000 - $1,000,000,000 only.

If you want that much you misunderstand the word need.

11 hours ago, iNow said:

https://www.fool.com/retirement/2017/07/03/how-does-your-net-worth-compare-to-that-of-the-ave.aspx

Theres a neat invention. Few people have ever heard of it. You should ask Jeeves. It’s called google. 

If Berty had google how would Jeeves take a liberty?

[John Cuthber]

12 hours ago, cheetaman said:

I need $5,000,000 - $1,000,000,000 only.

What do you mean by that?

[Sensei]

@John Cuthber @cheetaman

"Appetite grows with eating".. when you would get to $5 mln, you would like to have $10 mln.. when you would get to $1 bln, you would like to have $2 bln.. etc. and start staring at Forbes billionaires list and your position on it..

Edited March 19, 2018 by Sensei

[John Cuthber]

3 hours ago, Sensei said:

"Appetite grows with eating".. when you would get to $5 mln, you would like to have $10 mln.. when you would get to $1 bln, you would like to have $2 bln.. etc. and start staring at Forbes billionaires list and your position on it..

I'm not sure how that would be relevant.But, if it was always true, how come I vote for a political party that will raise my taxes?

Why does anyone give to charity?

[Sensei]

1 minute ago, John Cuthber said:

how come I vote for a political party that will raise my taxes?

Because other party had even worser ideas.. ?

 

3 minutes ago, John Cuthber said:

Why does anyone give to charity?

Because they can discount it on PIT?

 

[Strange]

2 minutes ago, Sensei said:

Because other party had even worser ideas.. ?

 

Because they can discount it on PIT?

 

No.

And no.

[John Cuthber]

31 minutes ago, Strange said:

No.

And no.

Correct, and correct.

So, it's back to you Sensei...

[Area54]

1 hour ago, John Cuthber said:

I'm not sure how that would be relevant.But, if it was always true, how come I vote for a political party that will raise my taxes?

Why does anyone give to charity?

It may not always be true, but it is likely true of some, for one reason or another. I know - in the most remote acquaintanceship sense - a chap who is worth a couple of hundred million pounds, largely from the sale of the company that he built from scratch. The last I heard he was now working on ways to become a billionaire. Not because he needed the money, but because he thought it would be an amusing challenge.

[StringJunky]

16 minutes ago, Area54 said:

It may not always be true, but it is likely true of some, for one reason or another. I know - in the most remote acquaintanceship sense - a chap who is worth a couple of hundred million pounds, largely from the sale of the company that he built from scratch. The last I heard he was now working on ways to become a billionaire. Not because he needed the money, but because he thought it would be an amusing challenge.

it sounds like he''s committed himself so much to being wealthy, all he can see is to be more wealthy... it is its own end.  A bit sad really.

[Area54]

1 minute ago, StringJunky said:

it sounds like he''s committed himself so much to being wealthy, all he can see is to be more wealthy... it is its own end.  A bit sad really.

Perhaps. But his original company generated employment for many people and provided massive cost savings for clients using his products. I knew many of the people who worked there and it was clearly an exciting and rewarding work environment. His approach, as far as I can discern it, is no different from an athete seeking to set a new personal best. If his case is sad then I think everyone who strives towards a goal is arguably equally sad.

[Raider5678]

25 minutes ago, StringJunky said:

it sounds like he''s committed himself so much to being wealthy, all he can see is to be more wealthy... it is its own end.  A bit sad really.

From the description, it seemed like he thought it'd be an "amusing challenge" not that he was necessarily committed to being wealthy.

[dimreepr]

25 minutes ago, Area54 said:

Perhaps. But his original company generated employment for many people and provided massive cost savings for clients using his products. I knew many of the people who worked there and it was clearly an exciting and rewarding work environment. His approach, as far as I can discern it, is no different from an athete seeking to set a new personal best. If his case is sad then I think everyone who strives towards a goal is arguably equally sad.

I agree, there's nothing inherently wrong with wanting more, it can give life a purpose, it depends on how one goes about it. Unfortunately far too many people with that aim/purpose tend to go about it through deceit (hiding the profit to avoid paying their fair share) and selfish greed (ignoring the suffering of others to improve a number).

Edited March 19, 2018 by dimreepr

[StringJunky]

4 minutes ago, Raider5678 said:

From the description, it seemed like he thought it'd be an "amusing challenge" not that he was necessarily committed to being wealthy.

Sounds like arrogance to me.

[Raider5678]

1 minute ago, StringJunky said:

Sounds like arrogance to me.

Ultimately that could be applied to anything someone aspires to be.

"You're aspiring to be a billionaire? You're arrogant for thinking you can."

"You're aspiring to be a doctor? You're arrogant for thinking you can."

"You're aspiring to be a lawyer? You're arrogant for thinking you can."

"You're aspiring to be a/an (insert something hard to become)?  You're arrogant for thinking you can."

[StringJunky]

1 minute ago, Raider5678 said:

Ultimately that could be applied to anything someone aspires to be.

"You're aspiring to be a billionaire? You're arrogant for thinking you can."

"You're aspiring to be a doctor? You're arrogant for thinking you can."

"You're aspiring to be a lawyer? You're arrogant for thinking you can."

"You're aspiring to be a/an (insert something hard to become)?  You're arrogant for thinking you can."

Why are you conflating doctors with billionaires? 

[Raider5678]

1 minute ago, StringJunky said:

Why are you conflating doctors with billionaires? 

The guy already has several hundred million. 

It's fairly safe to say it's not the same as someone climbing from $0 to $1,000,000,000 with someone going from a kid to a doctor.

But change $0 to $300,000,000 and it's not that different. 

[John Cuthber]

1 hour ago, Area54 said:

he thought it would be an amusing challenge.

I can think of better jokes.

 

53 minutes ago, Area54 said:

Perhaps. But his original company generated employment for many people and provided massive cost savings for clients using his products.

Did he actually create wealth, or did he take it from others?
Often "massive cost savings" means reduced employment somewhere along the line.

[swansont]

On 3/17/2018 at 10:06 PM, cheetaman said:

What is the average family net worth in the USA?

 

On 3/17/2018 at 11:29 PM, cheetaman said:

I need $5,000,000 - $1,000,000,000 only.

!

Moderator Note

I think the answer has not changed: you need to use a search engine and do your own homework. Unless someone here just happened to have that esoteric knowledge, you are just basically just offloading the work to others, and that's kind of rude.

 

[Ten oz]

36 minutes ago, StringJunky said:

Sounds like arrogance to me.

In many societies there seems to be the notion that an individual becoming wealthy as possible is somehow inherently good for society at large. Greed is good seems to extend to many manner of things. It is just a matter of ones appetites. Men with an appetite for sexual conquest appluad those who are able the bed many women. Likewise those with religious appetites applaud fervence. I suppose since to some degree everyone has some level of appetite for money it is the ultimate trophy for many. It is unhealthy in my opinion when any appetite is taken too far.