A $122,100/year is well above the median income of any country. For the US median income is $46,625/year. So more then half of Americans are not part of the richest 10%. That is even more true for Europe, where incomes tend to be lower.
There were two possible definitions to go by: income or net worth. Look how low the net worth figure is (especially the one from the Credit Suisse study).
Keep in mind that even a $1M net worth – more than either the Credit Suisse or World Inequality Report measure – is considered on the low side in terms of retirement savings by age 65. (At a 4% safe withdrawal rate, it only gets you $40k/year to live on.)
A lot of people have debt on their home, if they own it. There are also a lot of Americans among the people with the lowest net worth in the world. That is mainly student debt and they do not live bad lifes, but the thing is that median net worth of adults in the US is still $93,271 according to the same study. So litterally half of Americans are not part of the global 10% in terms of net worth either.
A $122,100/year is well above the median income of any country. For the US median income is $46,625/year. So more then half of Americans are not part of the richest 10%. That is even more true for Europe, where incomes tend to be lower.
https://en.wikipedia.org/wiki/Median_income
There were two possible definitions to go by: income or net worth. Look how low the net worth figure is (especially the one from the Credit Suisse study).
Keep in mind that even a $1M net worth – more than either the Credit Suisse or World Inequality Report measure – is considered on the low side in terms of retirement savings by age 65. (At a 4% safe withdrawal rate, it only gets you $40k/year to live on.)
Page 25 has a breakdown of median wealth. For the US it is $93,271, however for Western Europe it is higher then that to be fair.
The person you’re reacting to mentions net worth. Owning a total of 138k is like a quarter of a house here
A lot of people have debt on their home, if they own it. There are also a lot of Americans among the people with the lowest net worth in the world. That is mainly student debt and they do not live bad lifes, but the thing is that median net worth of adults in the US is still $93,271 according to the same study. So litterally half of Americans are not part of the global 10% in terms of net worth either.
You do realize that saying “Somewhat over half aren’t”, means that a very large number of people ARE, right?
Absolutly, I am just trying to put some numbers to it.