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The government taxation method incorporates their latest desire to raise federal income taxes on individuals making over 8,400 a year and married couples making over 0,700 a year for 2017.
The government is sexist and believes one spouse should drop his/her 8,400 income and be a stay at home spouse or make no more than ,300 a year (0,700 – 8,400) as soon as the couple settles down.
One of the most popular posts on Financial Samurai is The Average Net Worth For The Above Average Person.
The “above average person” is loosely defined as someone who graduated from college (35% of the American population), works hard, plays well with others, takes full advantage of their pre-tax retirement plans, saves additional disposable income, stays on top of their finances by utilizing free financial tools, expects nothing from their parents or the government and is not delusional.
Somewhere between the ages of 45-50, the above average person’s net worth reaches over one million dollars.
We can all agree that thanks to inflation, easy monetary policy, a roaring bull market and a recovery in real estate, becoming a millionaire by the time we retire is fast becoming the rule, rather than the exception.
One simply has to double the amounts in my above average person net worth chart to get to the Equality Net Worth chart.
Some of you argue that men and women are not equal and will therefore disagree with how high the figures are in the Equality Net Worth chart.
It’s important to note the figures in my chart are for individuals and not for couples.
For those of you who combined your household net worth to see where you stand, so sorry. At the same time, not everybody can find someone they love, hence why I initially created a per person chart.
Independence is a core part of Americana, except for grown adults who still live with their parents.