Reply to What net worth is considered wealthy? Middle class? Poor?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]http://www.realtor.com/local/Fairfax-County_VA/lifestyle?v7=1

Average net worth is 982k and age is 37.  I'd rather see median numbers for net worth.[/quote]

Yeah, maybe its because its a mean net worth, but those numbers don't seem quite right to me. Unless you start with a lot of money, having an average net worth of almost a million on a median salary just over $100,000 by age 37 seems to represent extraordinarily good money management.[/quote]

For example, if somebody entered the workforce at 22 and had an average income of 90K over the first 15 years of their career, would they even have accumulated $982,000 in lifetime post-tax income, yet alone net worth?[/quote]

The age and the income are independent statistics. That doesn't mean the avg net worth person is 37.

For example, you could have this population:

age: 20, net worth: 10,000
age: 30, net worth: 10,000
age: 37, net worth: 5,000 
age: 50, net worth: 15,000
age: 70, net worth: 2,906,000

With these summary statistics:

Median Age: 37
Avg Net Worth: $982,000
Median Net Worth: $10,000
Avg Age: 41.4
[/quote]

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