25% of Americans aged 40-49 are millionaires

[Kriegsspiel]

An interesting statistic, via the other Tyler.

With all these billionaires competing to go to space, how optimistic is everyone that space travel will be the next "rich dude thing" to filter down to the masses? Like air travel, cell phones, etc.

[pp4me]

That number is surprisingly small considering it includes projected Social Security payments.

Lifetime average for a single person is 570,000. For a couple, 1,113,000.

So if you are going to include SS you could say that the average person is more than halfway there at birth and the average couple is already there.

[SomeDude]

I wish i could sell the net present value of my future SS payments

[Dieter]

That number is surprisingly small considering it includes projected Social Security payments.

Lifetime average for a single person is 570,000. For a couple, 1,113,000.

So if you are going to include SS you could say that the average person is more than halfway there at birth and the average couple is already there.

From what I've seen, those numbers aren't just for Social Security, but also include Medicare.
(I assume gotten from https://www.cbpp.org/research/social-se ... l-security ?)

And, I couldn't tell what year dollar they are counting.

For Social Security, the average yearly is about $18k (per https://www.cbpp.org/research/social-se ... l-security). As average life expectancy in the US is 78, and retirement age 66ish at the moment (67 for me) :
12 years * $18k = $216k

(plus yearly inflation adjustment)

Not $570,000

My google skills probably didn't capture the best sources of data, but, above based on what I could quickly find. That $18k does seem in line with what I've heard previously. I do with I could have found median vs average numbers.

This assumes that more funding is found so SS payment don't get cut in a few years.

And, healthcare costs, ugh.

[pp4me]

Not $570,000

This is where I got my figures .... https://www.thestreet.com/retirement-da ... e%20wages.

For a single male earning average wages every year and retiring in 2020 at age 65, lifetime Social Security and Medicare benefits would equal about $570,000 and, for a couple with average and low wages, about $1,113,000.

If I live as long as my Dad (I'm already collecting $3682/month @ age 72) mine will be $972,048 - not counting Medicaire, of course. I have no clue how much my parents Medicaire costs were but I'm sure it was a LOT of money in the later years.

[Maddy]

In other words, 25 percent of Americans aged 40-49 do not, but for the promise of government entitlements, have a pot to piss in.

And the other 75 percent can only aspire to their status in life.