The average 40 year old has $63,000 in savings

That's impressive. What's your profession?

Agreed. Regardless of your salary you need to put away a certain percentage each paycheck. 401ks are the best way and if not available IRAs. If you did that you would have aLOT more than 63k by age 40. Most people dont have the discipline or desire to do that.

Got to love the amount of humble bragging in this thread. We're so impressed!

Why does it matter? I am a civil servant and have amassed a net worth of about $3M at 40 years old.

It's just the inverse of what poor people do when they complain all the time about how much things cost. If I only had a nickel for everytime someone told me, "that's expensive" when I buy a discretionary item in excess of $10. Yes, the $60 safety razor I use is expensive, but more than pays for itself over its lifetime. Poor people gonna poor.

$60 sounds like a lot for a razor.

But that's the first I've heard of a "Safety razor" and seems you may be onto something there. Cost of replacement blades as low as 8 cents a blade. And more environmentally friendly! Checking them out now and will probably (almost certainly) make the switch.

Thx.

Check out the Razorock GC and Merkur Progress. Those are my two favorites.

I have $100 million USD equivalent of all majorly traded currencies, as well as crypto. My wife was voted as “most impregnate-able” 10 years running. I ran 11:59 in a 5k time trail relaxed, however there is no video evidence.

And im not even 40 yet.

I'm going to give the lower cost WEISHI Safety Razor Double Edge Nostalgic Long Handle Butterfly Open Razor a try to see if i like this style of razor before forking out the big bucks. It got good reviews, i like the look, and will give me a better sense of what features matter to me when i go to upgrade (but hopefully I may not need to).

Thx.

You’re right. I glossed over the part about it not being 60% each with 250k, but their collective average (assuming we mean mean). Regardless your example is a little extreme and the distributional effects can be a lot different between median and mean which was my point. The article mentioned the median being 63k I’m pretty sure, it seems people here were suggesting it’s the mean.

“We mean mean means mean means abound” is apparently an okay English sentence btw.

It means millions of Americans are lazy and selfish and dumb.

Retirement saving, maybe 401k......

you make your retirement in the next 20 years. $63,000 with compounding interest in the next 25 years will double a few times. That turns into about $300,000 by the time they are 65.

You take that, hopefully equity in a home and social security, a person could have upwards of $700,000 in personal value by that time.

This makes average and median more clear.

"On average, Americans have around $141,542 saved up for retirement, according to the "How America Saves 2022" report compiled by Vanguard, an investment firm that represents more than 30 million investors.
However, most people likely have much less: The median 401(k) balance is just $35,345."

cnbc.com

Here's how much Americans have saved for retirement at every age

https://www.facebook.com/CNBC

Vanguard's latest "How America Saves 2022" report reveals Americans have an average of $141,542 saved for retirement. Here's how that breaks down by age.

Link:www.cnbc.com/2022/07/30/vanguard-how-m...