Our parents have saved and invested through the largest bull market in history. Keeping an open mind is critical.ħ) Has a healthy amount of self-esteem to be able to lead change and believe in themselves.Ĩ) Enjoys empowering themselves through learning, whether it be through books, personal finance blogs, magazines, seminars, continuing education and so forth.ĩ) Has little-to-no student loan debt due to scholarships, part-time work, or help from their parents. Once you know where all your money is, it becomes much easier to optimize your wealth and make it grow.Ħ) Welcomes constructive criticism and is not overly sensitive from friends, loved ones, and strangers in order to keep improving. The Above Average Person is loosely defined as:ġ) Someone who went to college and believes grades and a good work ethic do matter.Ģ) Does not irrationally spend more than they make.ģ) Saves for the future because they realize at some point they no longer are willing or able to work.Ĥ) Takes responsibility for their own actions when things go wrong and learns from the situation to make things better.ĥ) Takes action by leveraging free tools on the internet to track their net worth, minimize investment fees, manage their budget, and stay on top of their finances in general. Let’s look at the average net worth for above average people.
But these numbers are skewed by the super rich who have generated an enormous amount of wealth since the financial crisis.Īlthough the average net worth for all Americans is $692,100, the median net worth is a more pedestrian $97,300. If we all earn $1 million dollars a year and have $5 million in the bank at the age of 40, none of us are very wealthy given all our living costs (housing, food, transportation, vacations) will be priced at levels that squeeze us to the very end.Īs such, we must first get an idea of what the real average net worth is in our respective countries, and then figure out the average net worth of the above average person!Īccording to the Federal Reserve’s Triennial Consumer Finance Survey, the average net worth for the following ages are: Everything is relative when it comes to money.
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