In today's podcast episode, we discuss what it means to be average financially speaking vs. where you stand in the median group.
There is a big gap between the two and today we will focus on those median numbers (the number right in the middle of the highest and the lowest number).
You see, the average numbers are the total of a group averaged into one and those numbers can be skewed wildly if you add Elon Musk or Jeff Bezos into this average. When you do that your number can be much higher than what is ‘normal’ in society.
Using the median net worth, we think, is a more accurate number to determine where you stand.
On the last podcast, we spoke about your net worth. Knowing your net worth is a statement that quickly shows you where you stand financially and knowing what the average net worth is in your age group can help you determine how you are doing.
YOU don’t want to be average, do you? Of course not!
The purpose of this podcast today is to give you a tool to see if you're winning with money.
It’s not a be-all, end-all, but it should help you at least see how you compare and our hope is it just may help you get fired up, or excited and refocused to win with money.
Are you winning or… something else? Let's find out!
Questions for Review:
- Are you happy with where you are financially?
- After listening to the Podcast, did you find yourself in the average for your age group, or better or worse compared to your peers?
- What's one thing you can do today that will help make you better than average financially?
Verse from the Episode: "Do not weary yourself to gain wealth, Cease from your consideration of it. When you set your eyes on it, it is gone, for wealth certainly makes itself wings like an eagle that flies toward the heavens." -Proverbs: 23:4-5