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According to a report by the Public Policy Institute of California, in early 2023, 31.1% of residents were poor or near poor (with resources up to one and a half times the CPM poverty line), up ...
Even though Millennials are well known for taking out large amounts of student loans, these are actually not their main source of non-mortgage personal debt, but rather credit-card debt. According to a 2019 Harris poll, the average non-mortgage personal debt of millennials was US$27,900, with credit card debt representing the top source at 25% ...
Kelly considers hers a “good income” but isn’t sure why Ramsey wouldn’t agree and is wondering if she needs to get another job. “Good income is relative to the average household income ...
“Good income is relative to the average household income in America, which is $78,000 right now.” Real median household income in the U.S. was $78,250 in 2019 and fell to $74,580 in 2022 ...
For example, a household in possession of an $800,000 house, $5,000 in mutual funds, $30,000 in cars, $20,000 worth of stock in their own company, and a $45,000 IRA would have assets totaling $900,000. Assuming that this household would have a $250,000 mortgage, $40,000 in car loans, and $10,000 in credit card debt, its debts would total $300,000.
The income considered in the two lines is different as well; the GDP figure includes all income (derived from labor and capital) while the median income figure includes only a subset of income (wages/salaries but not benefits). [97] Labor's share of GDP declined by 4.5 percentage points from 1970 to 2016, measured based on total compensation.