The median 40 year old has a net worth of $38,500…
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Median networth for 35 yo shows 42k. 6k for 25 yo and 44k for 45 yo.
So the average net worth plateaues after 35. It even goes down from 35 yo to 40 yo. Maybe the 40 yo reached their 30 yo birthday in 2007, a bad year to reach 30.
Apparently 1982 is a better year to be born than 1977. Your networth is partially determined by the year you were born.
Economic cycle runs its own course and generations could be punished by their birth years.
Is Millenials a blessed generation or a cursed one?
Boomers might be a blessed generation. But boomers are poorer than their parents.
Maybe Gen-X will be rich and Millenials will be a poor generation.
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Uh, oh, when Hemmings start talking CRXs, time to park the baby inside… (yes, I realize some of you cats have 8.5k in your left pocket but these cars are starting to appreciate a bit…)
https://www.hemmings.com/classifieds/cars-for-sale/honda/crx/1949321.html?refer=blog
That’s predictable given asset appreciation rates. Those with assets will accumulate wealth faster than those with more debt than assets.
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The trick is to use debt to generate more assets… that’s why people leverage to buy homes and view their leverage as the most important generator of wealth.
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Oh boy! I bet you know me by now 
I read the opinions of some posters, and they seem liberals to me. 
Enough with politics. 
The reason the 1%ers are rich is because they have the $ to pay for a good attorney Or CPA to dig into the tax rules and make them a winner.
For instance, if you are a business owner paying $600K in taxes a year and want to pay less, say $50K instead by utilizing a tax saving program aka tax loophole, it will cost you $60K to put you into any corporate entity that will allow you to even lease your own home and any machinery, etc, to your company. I also know so many trusts that can make you pay benefits to your employees, and that money will get back to you as a deduction. It sounds like the same deal you hear around but it’s something different. And, yes, this is Twhitler, and many billionaires territory avoiding paying taxes, they use the loopholes as a revolting door, around and around until they pay 0 in taxes.
I also brought to the forum copies of how to get the $ in your pockets, the capital gains that you would pay to uncle Sam. Bad thing that instead of 1031 it, you get the money and use it for another investment, you defer the payment for 30 years. It’s not for everyone since I’ve read some investors are hoarders, never letting go of a property. Good for those flippers.
I am not lying, but I know this guy, he hasn’t paid taxes since 1984. He can open a trust for you and make you “invisible” to the tax scheme played on all of us. You can then relax, never hear of paying taxes again. That is nothing! He can teach you to never pay your mortgage. Although that requires you to follow a script from a to z in order to succeed. You really disappear from the radar and that takes some guts. But still you benefit.
So, I believe the 1%er are people who listen, learn, and understand how to take a risk or grab a good thing when they see one. Some are, or they may be lucky at the first strike, others are resilient to try once and twice until they succeed. You are not one of them by waiting for an opportunity to arrive. You have to hassle.
I also think and believe that some posters here are so conservative in their dealings that their 0 risk tolerance it’s not making them rich, I am not saying all, but some may be so negative they think I am bluffing or lying because I am buyinghouse, and I don’t give a damn about being liked or not. I am just trying to open some eyes here.
My response is always this: Negative people? They are there, watching the opportunity train arrive and leave, they never dare to apply or try anything new. They are indeed the fictional story of the chained elephant.
You know the rest of the story.
Me? I am trying. 
Lol, the guy lecturing about risk tolerance is trying to sell life insurance and bragging about how you’ll never lose your principal. That’s about as risk-adverse as it gets.
How they become 1%ers?
Inheritance.
Started a business and got lucky.
What else?
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First, you are with a wrong company leading to wrong understanding.
To become 1%, you do not need to pay good attorney Or CPA.
A person saves just 4 years max Roth IRA and leaves it 45 years in SPY growth ends up having $1M
Fact 
What you need is to spend less than what you earn. Save excess amount and invest carefully.
This is the main reason, I am telling you are in wrong hands or wrong company !!
What is wrong in it? Every intelligent person does this.
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Wow! Hanera, you invented the wheel again! 
Did you miss the part where I said they have to get a CPA or an Attorney so they don’t end up paying this huge amount of taxes?
What’s his name? Zuckerberg? He got so rich that in order to deduct as much $ from the taxes he needed to pay, he created a charitable foundation. For that, he needed a tax attorney, the same one we use in our office for big accounts.
You think these rich guys just pay taxes? Dang! I thought you guys knew more than me?
1% methods (from easiest to hardest)
- your job
- your own business
- marriage
- inheritance
- lottery
So, I think the best bet to get into the one percent is to work hard at your job!!!
Are you implying 1%ers are not rich?
Or you need to employ a good attorney to get to 1%ers?
What is your definition of rich?
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(Def not a 1%er, or for that matter a 3.75%er), but my definition of rich is having a wonderful wife who keeps my tummy filled and can put up with my sheet…
Happy Anniversary Sweetie!!!
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Are you implying that you are a 3.75%er? How did you arrive at that number?
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Americans are doing really well and the upper class keeps expanding. Because of the growing number of “rich” people, the minimum number to be called “rich” has increased.
Today’s 10M might be equivalent to “millionaire” in the old days. I think you can start feeling rich when you have 100M.
If you’re under 10M, you are an above middle class, not rich.
Why 10M? Why not 5M or 15M?
Why 100M? Why not 50M or 150M?
Exactly. More people are moving up and out of the middle class than down and out. We should celebrate so many people are moving up, and the opportunity for upward mobility exists.
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