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Money and Finances
Reply to "The 1% in the household income and net worth distributions in the US in 2020"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]we only have 93% income, but are at 98% net worth for our age group. [/quote] That would indicate that you are smart with your money and know how to save and invest. HHI does not mean high net worth. [/quote] It is entirely possible that they managed their finances well. It could also indicate that they had a windfall like an inheritance, lottery prize, etc. You don't have to be smart to reap a windfall. [/quote] pp. The reason we have that is because we got married young and saved a lot of our income early on and one of us was always able to WAH so we had minimal childcare costs, and we don't live in a very expensive area. [/quote] NP - after we got married we saved one income and invested it. We lived comfortably on one income so it wasn’t a struggle. Over time our income was in the 1% but our net worth is closer to .01%. Thirty five years of investing and compounding really paid off. [/quote]
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