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View Poll Results: What temperament are you and how well are you doing relative to the median?

Voters
16. You may not vote on this poll
  • NF-Below quoted U.S. median

    5 31.25%
  • NF-Above quoted median but below top 25%

    0 0%
  • NF-Above quoted 25%-ile, but below top 10%

    0 0%
  • NF-Top 10%

    1 6.25%
  • NT-Below quoted U.S. median

    2 12.50%
  • NT-Above quoted median but below top 25%

    4 25.00%
  • NT-Above quoted 25%-ile, but below top 10%

    1 6.25%
  • NT-Top 10%

    1 6.25%
  • SJ-Below quoted U.S. median

    0 0%
  • SJ-Above quoted median but below top 25%

    0 0%
  • SJ-Above quoted 25%-ile, but below top 10%

    0 0%
  • SJ-Top 10%

    1 6.25%
  • SP-Below quoted U.S. median

    0 0%
  • SP-Above quoted median but below top 25%

    0 0%
  • SP-Above quoted 25%-ile, but below top 10%

    0 0%
  • SP-Top 10%

    1 6.25%
12 Last

Results 1 to 10 of 15

  1. #1

    Default Don't reveal too much, but how good are you at making/saving money?

    In the U.S.

    Age: 20-29
    Median Net Worth: $7,900
    Top 25%: $36,000
    Top 10%: $119,300

    Age: 30-39
    Median Net Worth: $44,200
    Top 25%: $128,100
    Top 10%: $317,800

    Age: 40-49
    Median Net Worth: $117,800
    Top 25%: $338,100
    Top 10%: $719,800

    Age: 50-59
    Median Net Worth: $182,300
    Top 25%: $563,800
    Top 10%: $1,187,600

    Age: 60-69
    Median Net Worth: $209,200
    Top 25%: $647,200
    Top 10%: $1,429,500

    Source: Federal Reserve Board's 2004 Survey of Consumer Finances

    Free Money Finance: Median Net Worths -- Are You Ahead or Behind?

    I suppose people can gloat, or complain too, but I am not encouraging that.

    Accept the past. Live for the present. Look forward to the future.
    Robot Fusion
    "As our island of knowledge grows, so does the shore of our ignorance." John Wheeler
    "[A] scientist looking at nonscientific problems is just as dumb as the next guy." Richard Feynman
    "[P]etabytes of [] data is not the same thing as understanding emergent mechanisms and structures." Jim Crutchfield

  2. #2
    Senior Member Lateralus's Avatar
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    Damn student loans! :steam:
    "We grow up thinking that beliefs are something to be proud of, but they're really nothing but opinions one refuses to reconsider. Beliefs are easy. The stronger your beliefs are, the less open you are to growth and wisdom, because "strength of belief" is only the intensity with which you resist questioning yourself. As soon as you are proud of a belief, as soon as you think it adds something to who you are, then you've made it a part of your ego."

  3. #3

    Default

    Quote Originally Posted by Lateralus View Post
    Damn student loans! :steam:
    That's why local schools are great unless you get a scolarship to one of those big name ones.

    Accept the past. Live for the present. Look forward to the future.
    Robot Fusion
    "As our island of knowledge grows, so does the shore of our ignorance." John Wheeler
    "[A] scientist looking at nonscientific problems is just as dumb as the next guy." Richard Feynman
    "[P]etabytes of [] data is not the same thing as understanding emergent mechanisms and structures." Jim Crutchfield

  4. #4
    @.~*virinaĉo*~.@ Totenkindly's Avatar
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    Default

    Quote Originally Posted by ygolo View Post
    Don't reveal too much, but how good are you at making/saving money?
    A HA HA HA HA HA Haha ha ha ha ha HAAA hA HA HA HA giggle guffaw GLOMP GLOMP GLOMP wheeze choke spew HIC HIC HIC Haa ha ha ha TEE-HEE snort snot hee hee hardee har har hissssssssssssss choke splutter cough ha ha ha!!!

    Age: 30-39
    Median Net Worth: $44,200
    Top 25%: $128,100
    Top 10%: $317,800
    Well... look at that. I don't think I am in the top 25%, but I am definitely above the median. Who would have thunked?
    "Hey Capa -- We're only stardust." ~ "Sunshine"

    “Pleasure to me is wonder—the unexplored, the unexpected, the thing that is hidden and the changeless thing that lurks behind superficial mutability. To trace the remote in the immediate; the eternal in the ephemeral; the past in the present; the infinite in the finite; these are to me the springs of delight and beauty.” ~ H.P. Lovecraft

  5. #5
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    Default

    more like .. how randomly lucky are you at having a net worth after erratic spending habits .. i'm above 25% but it wasn't a deliberate plan to make / save money ..

  6. #6

    Default Compare how well people are saving to how well they need to save for retirement...

    Age, Annual Spending Saved (in multiples of Anual Income)

    30, 1
    35, 2
    38, 3
    42, 4
    44, 5
    47, 6
    49, 7
    51, 8
    53, 9
    55, 10
    57, 11
    59, 12
    61, 13
    63, 14
    64, 15
    66, 16
    68, 17
    69, 18
    70, 19
    72, 20

    Taken from:

    Free Money Finance: How to Compute Your Net Worth and Check Your Financial Progress

    Compare the numbers above to the chart attached, taken from:
    Baby Boomers' Retirement Prospects: An Overview
    Attached Images Attached Images

    Accept the past. Live for the present. Look forward to the future.
    Robot Fusion
    "As our island of knowledge grows, so does the shore of our ignorance." John Wheeler
    "[A] scientist looking at nonscientific problems is just as dumb as the next guy." Richard Feynman
    "[P]etabytes of [] data is not the same thing as understanding emergent mechanisms and structures." Jim Crutchfield

  7. #7

    Default

    Another statistic on Financial Net Worth:

    the non-relationship between financial worth and iq on Flickr - Photo Sharing!

    You can see a bit of clumping for people with an IQ of below 90 and incomes below $30000.

    Goes to show (quite clearly) that you don't have to be smart to be rich.

    Accept the past. Live for the present. Look forward to the future.
    Robot Fusion
    "As our island of knowledge grows, so does the shore of our ignorance." John Wheeler
    "[A] scientist looking at nonscientific problems is just as dumb as the next guy." Richard Feynman
    "[P]etabytes of [] data is not the same thing as understanding emergent mechanisms and structures." Jim Crutchfield

  8. #8

    Default

    As you already know, I am arrogant. Even if I am not qualified to give advise, I will. You are free to ignore it, so I don't feel so bad.

    Saving for retirement is one of my pet-peeves. I don't believe in being a miser, but I think there are few simple tricks, that everyone knows, but sometimes need to be reminded of.

    How to Save Money - wikiHow

    You can combine 6), 7) and 13) by using a debit card where you think it is safe for all you purchases, and then set aside a certain percentage of what you spent (tracked for you on your statement) to some form of investment on your next pay check.

    1. Don't buy things you do not need. Sure, it's easier said than done, but sometimes you might want to forget that extra bottle of soda or bag of candy at the supermarket exit, or anything else that won't benefit you in the long run.

    2. Figure out what you need to save for and how much you need to save. For short-term goals, this is easy. If you want to buy a video game, find out how much it costs; if you want to buy a house, determine how much of a down payment you’ll need. For long-term goals, such as retirement, you’ll need to do a lot more planning (figuring out how much money you’ll need to live comfortably for 20 or 30 years after you stop working), and you’ll also need to figure out how investments will help you achieve your goals.

    3. Set savings goals. Once you determine how much you need to save, establish a timeframe (i.e. “I want to be able to buy a house two years from today.”) Set a particular date for accomplishing shorter-term goals, and make sure the goal is attainable within that time period. If it’s not attainable, you’ll just get discouraged.

    4. Figure out how much you’ll have to save per week, per month, or per paycheck to attain each of your savings goals. Take each thing you want to save for and figure out how much you need to start saving now. For most savings goals, it’s best to save the same amount each period. For example, if you want to put a $20,000 down payment on a home in 36 months (three years), you’ll need to save about $550 per month every month.

    5. Add together the installment amounts (monthly, weekly, or per paycheck) for all your savings goals. Can you afford to save this total each period? If so, great; if not, proceed to the next step.

    6. Pay yourself first. Savings should be your priority, so don’t just say that you’ll save whatever’s left over at the end of the month. Deposit savings into an account (or your piggybank) as soon as you get paid.

    7.Keep a record of your expenses. Write down everything you spend your money on for a couple weeks or a month. Be as detailed as possible, and try not to leave out small purchases.

    8. See where you can trim your expenses. You’ll probably be surprised when you look back at your record of expenses: $300 on ice cream, $100 on parking tickets? You’ll likely see some obvious cuts you can make. Depending on how much you need to save, however, you may need to make some difficult decisions. Think about your priorities, and make cuts you can live with.

    9. Reassess your savings goals. If there’s absolutely no way you can fit all your savings goals into your budget, take a look at what you’re saving for and cut the less important things or adjust the timeframe. Maybe you need to put off buying a new car for another year, or maybe you don’t really need a big-screen TV that badly.

    10. Make a budget. Once you’ve managed to balance your earnings with your savings goals and spending, write down a budget so you’ll know each month or each paycheck how much you can spend on any given thing or category of things. Try to leave a little room for minor unexpected expenses.

    11. Stick to your budget. A budget won’t do you any good if you don’t follow it religiously. Build some self-discipline, and remember why you’re on a budget in the first place.

    12. Open an interest-bearing savings account. It’s a lot easier to keep track of your savings if you have them separate from your spending money. You can also usually get better interest on savings accounts than on checking accounts (if you get interest on your checking account at all). Consider higher-interest options such as CDs or money-market accounts for longer savings goals. You can also open an online savings account with one of the companies that offer them. Look around for the best savings interest rate and try to find one that adjusts its rate as the federal interest rate changes. You can then set up an automatic transfer from your checking account to your high interest savings account. Many employers allow you to deduct savings from your paycheck. The money is directly deposited in your savings account so you never even see it on your paycheck. You can also have investments for retirement taken directly out of your pay, and the taxes may be deferred with this option. If you typically keep a large balance in your checking account, consider moving most of that money into a linked savings account. Keep the money in savings until it is time to pay bills, then transfer enough from savings into checking to cover your bills. Make sure you check with your bank to see what the minimum balance requirements are for your checking account so you don't get hit with additional fees.

    13. Don't use your credit cards. This is one of the most effective ways to reduce spending. Use cash for as many purchases as possible - you'll be more conscious of what you are spending your money on.

    14. Kill your debt. Simply calculating how much you spend each month on your debts will illustrate that eliminating debt is the fastest way to free up money. Once the money is freed from debt payment, it can be easily re-purposed to savings.
    Last edited by ygolo; 09-15-2007 at 07:43 AM. Reason: Got cut off

    Accept the past. Live for the present. Look forward to the future.
    Robot Fusion
    "As our island of knowledge grows, so does the shore of our ignorance." John Wheeler
    "[A] scientist looking at nonscientific problems is just as dumb as the next guy." Richard Feynman
    "[P]etabytes of [] data is not the same thing as understanding emergent mechanisms and structures." Jim Crutchfield

  9. #9
    にゃん runvardh's Avatar
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    I just blew all my savings during my move, and I have student loans to pay off...
    Dreams are best served manifest and tangible.

    INFP, 6w7, IEI

    I accept no responsibility, what so ever, for the fact that I exist; I do, however, accept full responsibility for what I do while I exist.

    [SIGPIC][/SIGPIC]

  10. #10
    Senior Member ptgatsby's Avatar
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    Top 10% with a fair margin, but it is the 20-29 group. I won't quite be top 10% when I turn 30... lemme see, should be about the time I'm 31 to 32 that I'd break top 10% in that category, I'd think. After that, I should remain in the top 10%. I suppose that if I include my pension, I might actually sneak in the top 10% when I turn 30... but I don't think that's likely, what with wedding and such expenses hitting around the same time.

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