Pretty sure it's retirees. They have low income because they are not working. But many of them are very well off. The rich retirees skew the average up even though most of the bottom 80% have little investment income.
Interesting, I just pulled this the other day. Average (mean) bottom-20 household has 18 K in checking deposit assets and 200 K in total assets. even while that quintile’s income caps at $32K. America is a very rich country…
Comments
Pretty sure it's retirees. They have low income because they are not working. But many of them are very well off. The rich retirees skew the average up even though most of the bottom 80% have little investment income.
Interesting, I just pulled this the other day. Average (mean) bottom-20 household has 18 K in checking deposit assets and 200 K in total assets. even while that quintile’s income caps at $32K. America is a very rich country…
Do you remember where you saw that? The Census figures are much lower: $11k total assets at the 25th percentile, $-1.5k at the 10th.
https://www.census.gov/content/dam/Census/library/publicatio...
Have fun...!
https://twitter.com/asymptosis/status/1755563199238431211
https://twitter.com/asymptosis/status/1755633196522409995