What do you think the average American household net worth is?

[Anonymous]

It says online the mean is 700k but the median is 120k.

I personally believe the median as that’s literally the man in the middle. What do you think?

mean is the average of everyone but median goes through and counts until you get to the middle man.

700k

120k

Other

[msmissydc]

Average mean; the words that makes everyone a millionaire when bill gates walks into the room.

Both has some statistical advantages and disadvantages but in general, as long as you leave control variables out of the equation, income and wealth is better talked about with the median in mind.

[RockyHammock]

Measures of central tendencies can be skewed by variance, but the skewed result works both ways.

You could look at the range one standard deviation from the mean if you wanted to be more accurately, al biet the figure wouldn't change much.

[RockyHammock]

This question doesn't reflect important variables, such as age, education and location. 700k and above is likely standard for people entering retirement, but by people at a working age (under 30) 120k may be more appropriate.

I wouldn't recommend over simplifying a benchmark that people will use to determine their self worth.

[jamesgoldman]

Probably something between the two