shocking financial stats

[baltimorened]

about the typical American family in 2026.

There were some posts in other threads about the haves and have nots, taxes and other financial stuff. I just watched a YouTube video on a channel "Erin talks money". she points out a lot of facts and figures about incomes, expenses, debt, retirement for the typical American family.

If you're interested in personal finance, you might find it interesting. It takes about 28 minutes, but full of interesting data

 

[baltimorened]

about the typical American family in 2026.

There were some posts in other threads about the haves and have nots, taxes and other financial stuff. I just watched a YouTube video on a channel "Erin talks money". she points out a lot of facts and figures about incomes, expenses, debt, retirement for the typical American family.

If you're interested in personal finance, you might find it interesting. It takes about 28 minutes, but full of interesting data

my new girlfriend Erin, had another video, I think some of you might like..."5 habits all millionaires share"

and it's not about people who have $1million it's about the habits people have in order to get to $1 million

 

[dpic73]

my new girlfriend Erin, had another video, I think some of you might like..."5 habits all millionaires share"

and it's not about people who have $1million it's about the habits people have in order to get to $1 million

Dude, you need to add a link. Are you talking about Erin Burnett?

Go to the video and click on the url at the top until it turns blue


Right click on it and choose Copy. Then come back to this post and right click Paste.

 

[dpic73]

my new girlfriend Erin, had another video, I think some of you might like..."5 habits all millionaires share"

and it's not about people who have $1million it's about the habits people have in order to get to $1 million

Nevermind I found it. Never heard of her.

 

[southerncaltiger]

I’ve watched several of her videos over the past 18 months or so. Pretty good info and well done production quality.

I’m with you @baltimorened, the financial stats I’ve seen since retiring in 2024 are pretty “interesting”. Those first 4 minutes…are the keys. I’m sure that I’ll get the typical defensive, low IQ response to this, but if you’ve got a $1M net worth including your home equity, I hope you’ve got a decade or more of runway before you plan to retire. Sadly, because that doesn’t go a long way…neither in South Carolina nor SoCal. Especially if you want to retire early.

 

[baltimorened]

Dude, you need to add a link. Are you talking about Erin Burnett?

Go to the video and click on the url at the top until it turns blue

View attachment 1220902
Right click on it and choose Copy. Then come back to this post and right click Paste.

 

[baltimorened]

thanks for the tutorial..I didn't know that.

 

[baltimorened]

Nevermind I found it. Never heard of her.

I never heard of her either, but she has good data..researched from US Govt. I just found it interesting.

 

[firegiver]

thanks for the tutorial..I didn't know that.

well, I think some of her claims around using MEDIAN house hold net wealth are extremely skewed. She claims that its happening for 'EVERYONE' but when you remove the top 1% it tells a completely different story.
Everyone knows that if you have been in the market the last 20 years, you are wealthier.

 

[baltimorened]

well, I think some of her claims around using MEDIAN house hold net wealth are extremely skewed. She claims that its happening for 'EVERYONE' but when you remove the top 1% it tells a completely different story.
Everyone knows that if you have been in the market the last 20 years, you are wealthier.

Like every video (or news show) these days you take the information that's provided, assess the sources, and use it for your needs/advantage. If you don't like MEDIANS, fine, use the averages. But for people who don't follow finance, the information should be beneficial.

 

[Rastafarian]

50% of consumer spending is now attributed to the top 10%. It’s never been this skewed. And will only get worse as AI replaces millions of white collar workers.

But hey, let’s give corporations and billionaires more tax breaks.

 

[baltimorened]

50% of consumer spending is now attributed to the top 10%. It’s never been this skewed. And will only get worse as AI replaces millions of white collar workers.

But hey, let’s give corporations and billionaires more tax breaks.

the purpose of these videos was to help people understand financial stats on one and how the average, non millionaire American has achieved that status. I honestly don't recall her using the terms "billionaire" or "corporation" once in either of these videos. Maybe I missed it, or went for coffee during that segment.

The point she was making was that people with savings/investing habits can in fact become millionaires. But, that means taking control or your life as opposed to simply complaining about what other's have or are doing.

Take them for the data they provide. If it goes counter to your beliefs, then just ignore them and the info provided. I just provided them as information

 

[Rastafarian]

the purpose of these videos was to help people understand financial stats on one and how the average, non millionaire American has achieved that status. I honestly don't recall her using the terms "billionaire" or "corporation" once in either of these videos. Maybe I missed it, or went for coffee during that segment.

The point she was making was that people with savings/investing habits can in fact become millionaires. But, that means taking control or your life as opposed to simply complaining about what other's have or are doing.

Take them for the data they provide. If it goes counter to your beliefs, then just ignore them and the info provided. I just provided them as information

There is this cognitive ability called reasoning that most adequately intelligent people have. It’s the ability to link to similar but different topics. Since you don’t meet that bar, I’ll help you.

Talking about spending and savings habits is relatively worthless when most Americans are living paycheck to paycheck. Everyone could spend less, but if that 27 year old decides to save $15/mo instead of subscribing to Netflix, it’s still not going to make them a millionaire.

The world is much different for today’s 20 something’s and 30 something’s so the financial lessons of “millionaire next door” do not apply anymore. All the gains in society have gone to capital and not labor and there are very limited paths to generate capital due to who our economy has been designed to work for.

 

[nytigerfan]

about the typical American family in 2026.

There were some posts in other threads about the haves and have nots, taxes and other financial stuff. I just watched a YouTube video on a channel "Erin talks money". she points out a lot of facts and figures about incomes, expenses, debt, retirement for the typical American family.

If you're interested in personal finance, you might find it interesting. It takes about 28 minutes, but full of interesting data

I was fully expecting this thread to be about Trump’s horrible GDP growth numbers.

 

[baltimorened]

There is this cognitive ability called reasoning that most adequately intelligent people have. It’s the ability to link to similar but different topics. Since you don’t meet that bar, I’ll help you.

Talking about spending and savings habits is relatively worthless when most Americans are living paycheck to paycheck. Everyone could spend less, but if that 27 year old decides to save $15/mo instead of subscribing to Netflix, it’s still not going to make them a millionaire.

The world is much different for today’s 20 something’s and 30 something’s so the financial lessons of “millionaire next door” do not apply anymore. All the gains in society have gone to capital and not labor and there are very limited paths to generate capital due to who our economy has been designed to work for.

well, everyone is entitled to their opinion, but the government numbers don't back you up.

It's a shame that you seem to have given up already. When I was in the army making $200/month had a $80 rent (for my wife who lived off post), a $64 car payment and had all the normal food, utility/insurance bills, managed to save money. It was the old, "pay yourself first" concept. And we "invented" the living paycheck to paycheck concept.

We used that money to buy a condo, which we rented and yielded a $300,000 gain.

Everyone has to start somewhere. Compounding is your friend.