Quote:
Originally Posted by Koko2
When I read statistics on wealth of United States citizens, there's raw numbers like the average savings is $20,000, the average debt excluding home mortage is just $2,000 and so forth. Yet when I read about people's finances online, there seems to be many people just struggling along paycheck to paycheck or on the verge of bankruptcy. I know there's people living in nice homes that are appreciating in value and people who say that they'll have a million socked away by retirement, so I know there's some wealthy people out there, but is it really that typical to have $20,000+ stowed away in bank accounts to reflect in these economic statistics?
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Never seen a number that low for average debt. That might work if they are including people with no debt because they don't qualify. That number has gone up. I wonder if they are including things like payday loans. "Savings" probably includes retirement but hard to answer without the source.
Also keep in mind the population in this forum is not representative of the rest of the world. On top of that the people you are referring to are asking for support. That makes the population even less relevant statistically. The opposite is true if you are gauging off a neighborhood with a lot of wealth (my area is like this). Or watching too much "reality tv".