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If you became an owner of 1KG of gold. How rich does that make you compared to the rest of the world? (ponder.cat)

submitted 13 hours ago by [email protected] to c/[email protected]

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[–] [email protected] 7 points 12 hours ago (2 children)

A kilo of gold is worth about $193k currently, which depending on where you live and how old you are means different things. For example, if that was your whole net worth and you are a Baby Boomer in the US you’d be about $1.5M below the average family. If you’re under 35, though, you’d be slightly above average. (Via kiplinger)

FWIW because the top 1% have so much wealth they skew the average significantly - overall the median net wealth in the US is right around that $193k number, but the average is just over $1M, which is pretty amazing.

$200K in net wealth would just about put you into the global top 10% and into the top 1% if those were your earnings for the year.

[–] [email protected] 5 points 12 hours ago (1 children)

You added $100k by typo.

[–] [email protected] 1 points 10 hours ago

Ah damnit so I did. The rest of the numbers are true, just not as close to the 1kg’s worth as noted.

[–] [email protected] 1 points 9 hours ago

the median net wealth in the US is right around that $193k number, but the average is just over $1M, which is pretty amazing.

I'd say that the median is the average in this case. The mean usually works as a mathematical average, but in this example, it's clearly skewed.

The difference isn't between median and average, but between median and mean.