Forum Discussion
westernrvparkow
Jul 23, 2019Explorer
tomman58 wrote:As people get older, they accumulate more wealth. What did you expect to happen. A person in their 20s are just beginning their career and their earnings. They will have a need to accumulate many rapidly depreciating items. They have to get a car, they have to buy furniture, they are funding their education.
Stats are stats:
Americans in their 20s: $16,000
Americans in their 30s: $45,000
Americans in their 40s: $63,000
Americans in their 50s: $117,000
Americans in their 60s: $172,000
I don't care what you did or are doing these numbers represent America and they suck add to it the game of tariffs and other economic nightmares and younger types are pretty much screwed as a whole.
A person in their 60s has a lifetime of earnings a part of which should have gone towards retirement savings. At a certain point in time they will begin to use that savings as part of their retirement spending. Other than the fact that the vast majority of those in their 50s and 60s probably wish they had paid more attention to retirement savings, your stats are exactly what one should expect in a functioning economy.
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