Quote:
Originally Posted by SteelBlue
Thought this was interesting:
Ages 35-44
Upper Middle (households that place at the 60th to 79th percentile for income)
Median Income: $68,800
Median Net Worth $131,580
Median Financial Assets (Savings and investments): $33,570
77.5% own a home
91.6% of those homeowners have a mortgage
64% carry a credit card balance with a median balance of $3,000
The average debt burden (payments as a percentage of income) 21%
Upper (households that place at the 80th to 89.9th percentile for income)
Median Income: $105,770
Median Net Worth: $266,600
Median Financial Assets: $74,460
86.1% own a home
96.2% carry a mortgage on that home
67% carry a credit card balance with a median balance of $3,525
The average debt burden is 20%
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At the risk of being labled a "Haddow" or an "FMCoug", here are my stats:
Age: 37 (in January)
Income: Higher than "Upper Middle" but lower than "Upper" (I'm being intentionally vague here)
- Net Worth: $160K. (I just added up my assets and subtracted my debts)
- Financial Assets (savings and investments): $35K-$40K. All of it in a 401K plan.
- I own a home
- I have a mortgage on that home
- I have a credit card but carry a $0 balance
- Debt Burden: 30%. (Debt burden is relatively high right now because we just closed on a new house last week. Hopefully as my income increases over the next few years then my debt burden as a percentage of income will decrease).
Summary: I'm about as "Upper Middle" as it gets.