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The Median Young Family Has Nearly Zero Wealth

Posted on February 7th, 2018 at 0:18 by John Sinteur in category: News -- Write a comment

[Quote:]

Using the Survey of Consumer Finances, I calculated various wealth series for young families with heads below the age of 35.

Here is median net worth for young families. I include both the net worth concept used by the Federal Reserve and a modified net worth concept that excludes vehicles. Insofar as vehicles are rapidly depreciating consumer durables, many argue that they should not be counted as assets for these purposes. Without these vehicles, the median young family had a net worth of $1,250 in 2016. This was down from the $7,846 peak in 1995.

  1. Oh, when they mentioned vehicles, I thought they were talking about launching a fancy sportscar into space…

  2. I guess NASA’s payloads were too valuable to risk failure. You would have though some High School students could come up with something useful to put on Mars. I guess it answers the question,”Is there intelligent life on Earth?”

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