Mean American household is now a millionaire, according to the Federal Reserve
Mean American household is now a millionaire, according to the Federal Reserve
It many be hard to believe it while money is so tight amid the cost of living crisis, but the average American household has achieved millionaire status.
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Cool. Now do median.
Read:
Even when looking at the median—another measure of the average, which represents the midpoint in the ranking and is less likely to be skewed by exceptionally high or low numbers—the typical American household was worth $192,900.
Although that figure is less exciting for aspirational workers, it still represents an impressive after-inflation gain of 37% over three years.
The mean is substantially higher than the median because it is boosted by the top 10% of earners, who have a net worth, on average, of $6.63 million, according to the Fed."
I think point he make is median lower by much.