Are you financially Stable compared to the average American?

[BlackLion]

Most Americans feel they become truly financially independent and stable in their mid-30s, with 92% of those surveyed indicating they reached this milestone around age 36. While many begin taking finances seriously by age 28, true stability—often marked by homeownership, savings, and reduced debt—generally stabilizes between ages 35 and 44.

-Yahoo Finance

Key Findings on Financial Stability by Age
Mid-30s (30–36): This period is often cited as the turning point for financial independence, with roughly 2/3 of those aged 30–34 considering themselves financially independent.

35–44 Age Range: Known as "building years," individuals in this group see significant increases in average savings ($41,540) and median net worth ($135,600).

45–54 Age Range: This is typically the peak earning, and therefore high-stability, phase for many Americans.
Factors: Financial stability is largely driven by achieving milestones like career advancement, marriage, or buying a home, which often prompt serious long-term financial planning.

-Pew Research Center

Median Bank Account Savings by Age
Under 35: $5,400
35–44: $7,500
45–54: $8,700
55–64: $8,000
65–74: $13,400
75+: $10,000

[agent006140]

The last research said average American family does not have $1k saving.
Student loan default rate is at all time high.
Consumers are turning to BNPL after exhausting their credit card limits.

Originally Posted by BlackLion

I remember a guy telling me ages ago that he moved to Canada to avoid paying 6 figures in student loan debt.

student loan and tax stay with us for life !
Moving to Canada will not erase his debt,when he comes back to US,US customs will know.

What do the locals think of the rich Asians from China and Hong Kong?

It depends which group are being discriminated,are there many blacks in Canada?
In TX,it is the Mexicans not Blacks as there are many legal and illegal latinos.
In Western Europe,it is the Irish and Eastern Europeans and the Middle Easterners.and the Greeks.
I could be wrong.
In some parts of Asia,it is the Eastern Indians,Vietnamese.

Originally Posted by rsot

Social media does put a spin on things. Lot of ppl here are complaining about the immigration and refugee acceptance - just one social issue among many.

It all boils them to one thing -that Moola $$.
Mexico welcomes Yankees who move to Mexico either tourists or retirees.
Refugees are welcome if you bring $$$

Originally Posted by rsot

Racism has been increasing - it's pretty diverse though but populations centred in major cities - unlike USA where population is spread out

Not really,you find more minorities in large metropolitan areas like LA,Chicago,NYC,Houston.
In the south,there are more latinos,up north more blacks.
However there is a large population of Somerians in MN

[rsot]

Nice find BL.

[BlackLion]

Originally Posted by agent006140

The last research said average American family does not have $1k saving.
Student loan default rate is at all time high.
Consumers are turning to BNPL after exhausting their credit card limits.

I remember a guy telling me ages ago that he moved to Canada to avoid paying 6 figures in student loan debt.

[BlackLion]

Originally Posted by rsot

Nice find BL.

Honestly forgot that I created this. Imagine if everyone was taught to invest or start businesses as children. The percentages would be way lower today in an alternate universe.

[BlackLion]

Originally Posted by agent006140

student loan and tax stay with us for life !
Moving to Canada will not erase his debt,when he comes back to US,US customs will know.

I cannot remember if he gave up his citizenship or not. He escaped before the World went insane.

[rsot]

Originally Posted by BlackLion

I remember a guy telling me ages ago that he moved to Canada to avoid paying 6 figures in student loan debt.

Classic escapism - maybe he had dual citizenship?

[yotano211]

I'm good, I just bought my 4th 4plex last year, and I might be able to buy another one next year. I dont sell on ebay full time anymore so I became a part time trucker to do something with my life until I can retire soon, I'm 45.

[firebriar]

life seems to be better in Canada. according to a Canadian lady in the checkout line she told me that "Canada doesn't have the racism that you have here in America" maybe she wanted me to go back with her. it seems like they have it easy up there...

[rsot]

Originally Posted by firebriar

life seems to be better in Canada. according to a Canadian lady in the checkout line she told me that "Canada doesn't have the racism that you have here in America" maybe she wanted me to go back with her. it seems like they have it easy up there...

It ain't all that peachy and rosey up here - racism exists in pockets, taxes are brutal for the hardworking population, employment seems to be busted at the moment...I could go on but whatever.

[dsdominators]

Originally Posted by firebriar

life seems to be better in Canada. according to a Canadian lady in the checkout line she told me that "Canada doesn't have the racism that you have here in America" maybe she wanted me to go back with her. it seems like they have it easy up there...

Seems like its a global thing. Everyone things the grass is greener on the other side.... I think social media is to blame though.

[rsot]

Originally Posted by dsdominators

Seems like its a global thing. Everyone things the grass is greener on the other side.... I think social media is to blame though.

Social media does put a spin on things. Lot of ppl here are complaining about the immigration and refugee acceptance - just one social issue among many.

[sax4]

There's less racism in Canada because Canada is not quite as 'diversified' as America.

In the country I am in now there's very little racism, but that will start to change soon as many European countries have a similar agenda.

[rsot]

Originally Posted by sax4

There's less racism in Canada because Canada is not quite as 'diversified' as America.

In the country I am in now there's very little racism, but that will start to change soon as many European countries have a similar agenda.

Racism has been increasing - it's pretty diverse though but populations centred in major cities - unlike USA where population is spread out

[agent006140]

It is the same worldwide.most immigrants settle in big cities where the jobs are.