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Reply to "WaPo on Net Worth"
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[quote=Anonymous][quote=Anonymous]The key takeaway for me was that the poorest have money in their fancy cars and cash. The wealthiest have their money in assets like real estate and stocks. [/quote] Oh boy….such a dumb comment If you are poor and your net worth is like 30k but you need reliable transportation to get to work then lots of your net worth will be in a not fancy car. If they have a 15k car and 6k in checking to pay bills then 50% of net worth is car and 20% in cash. Yes they could have a 5k car but when hourly you need something reliable because you don’t get paid if the car breaks down and takes a few days to fix.[/quote]
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