Reply to Can someone explain why median or average net worth matter when the recommended net worth is the most important number?

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Reply to "Can someone explain why median or average net worth matter when the recommended net worth is the most important number?"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Recommended, hmm. 
And what are the criteria used for that recommendation?
Cost of living your area?
Number of dependents?
Are you used to more lavish lifestyle and will you be shocked when you can't maintain that in retirement?
Does it factor in college costs?
What about nursing homes when you get dementia, like most people who live long enough?
Are you really this dumb?
[/quote]

I don’t think you can read very well. Formulas do take into account everything above you mentioned, as well as a buffer for unforeseen circumstances. Are you really that dumb? [/quote]
The. Point. Is. That. No. Formula. Can. Take. All. These. Criteria. Into. Account.

But to be honest, it's my bad, OP. I shouldn't expect anyone who creates a thread asking this question to have anything more than a low IQ.
[/quote]

I think you need to go outside and take a walk or something.

The point of the post was asking why people continue to report average and median net worth if it doesn’t necessarily provide an individual with information they need for their own planning. I have seen this over and over again when reading about personal finance.

There are plenty of formulas which one uses *as a baseline* for a goal number to know when to ideally retire and how much to withdraw per year. These are obviously highly individual. Most people will add a buffer % to be on the safe side. Not sure who you are but most people want to retire knowing they are likely to be safe financially and enjoy their retirement, as opposed to continually working to stay because “there’s no formula.”[/quote]

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