On average everyone is a millionaire. But the median barely changed.
When the distribution is very uneven the median (half above, half below) can tell you a lot.

For example, theoretically $1000 a month for 20 years in Social Security is essentially like having $200,000 now. (using 3% as estimate). Unfortunately, you can’t blow that on a good time in a few weeks.

At least that’s what I tell myself when I look at my bank account.

that demands a $5 million retirement nest egg.

$400 emergency and still meet their monthly financial obligations is, according to William Barber's book "White Poverty," 140 million, or 43% of the U.S.

I was looking the other day at a breakdown of what people 65 and older have in savings, broken down by age group, and it was nowhere near $5 million. IIRC, most had saved $500,000 or significantly less.

$192,900 median

Half of the households above, the other half below.

https://www.businessinsider.com/personal-finance/banking/average-american-net-worth

ago. It's tricky. She was actually being fairer to use the median than the average, but both fail to capture the reality of most Americans. In Reverend Dr. William Barber's new book "White Poverty" he argues that the true number of Americans living in poverty is about 140 million, or about 43%, who he defines as people or families who could not afford to meet their monthly financial obligations were they to have a $400 unforeseen emergency.

I happen to think that is a brilliant and much more honest definition of poverty than the index we currently use (and have used for decades). Parenthetically, he argues the bulk of the 90 million Americans eligible to vote but who do not are in this group.

I live comfortably at a much lower rate. Her commentary must have sparked a lot of panic.

and even sitting at the magic number of $1M isn't enough even with a small company pension and SS.We are not talking about any exceptional lifestyle either.

So, if Trump fucks up that I'm fucked and in that case I've been considering just honestly ending it all as I honestly won't have anything to lose since my Mom's gone and with my brother dying suddenly in January there just isn't left for me.

and we need all the help we can get