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15 Comments
Data Source: https://dqydj.com/net-worth-by-age-calculator/ (Federal reserve is their source)
Method to create graph: chatGPT
So important to look at Median, mean is worthless when you have people worth $100+ BILLION
I know you labeled the y axis at the top with 1e6 but I think it’s clearer if in the axis title you say something like (USD in millions)
For simpler consumption, might be better to label the y axis (millions of USD) vs simply USD and using the 1e6 scaler at the top. Just style points. Very interesting data.
Should be made more clear the units are millions of US dollars. The “1e6” in the corner is silly.
Also, it’s horrifying that the median net worth for people in their retirement (or approaching) age is still under 1/2 million USD. What about all those “expensive boomer houses” we keep hearing about?
The mean being much greater than the median shows the income inequality we have. The rich are *very* rich.
The median is the important stat here, it really doesn’t make sense that countries focus so much on their mean wages as if it functionally means anything!
Why is 0 not on the bottom of the table? And why is the x-axis 1e6 dollars rather than just (million dollars)?
This isn’t beautiful data.
So the average 50 year old is a millionaire? That’s interesting…
I needed a refresher
>>In statistics, the “mean” refers to the average value of a data set, calculated by adding up all the numbers and dividing by the total number of values, while the “median” is the middle value in a data set when arranged from least to greatest; essentially, the mean represents the “typical” value, while the median represents the “middle” point in the data set.
Why this matters
>>The mean is heavily influenced by outliers (extreme values), while the median is not significantly affected by them.
The average 18-24 year old is worth 100k?! Must be nice
Why is mean a solid line and median a dashed line?
What could be the reason of a downward (for median) and flatter (for mean) trajectory for the ages 35-39?
I’m completely shocked that people who have been working their entire lives, and who have savings/401ks, are wealthier those those who haven’t.
Crazy.