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A comment on The standard American household is now a millionaire, according to the Fed.

Re:The standard American household is now a millionaire, acc... by jsat on Tuesday October 24, 2023 @04:22PM (#38004919)
Please. The amount of sensationalization here is beneath HN. This is average which we all know is incredibly skewed towards high net worth individuals. The median (much more representative of the "standard" qualifier) net worth of an American household is far, far lower.
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Re:The standard American household is now a millionaire, acc... by pixl97 on Tuesday October 24, 2023 @05:51PM (#38006167)
"The average depth of this lake is 2 feet" --Said the wading man moments before his drowning death in a 20 foot deep hole.
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Re:The standard American household is now a millionaire, acc... by Manuel_D on Tuesday October 24, 2023 @06:15PM (#38006440)
As per the article, median net worth is $192,900.
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Re:The standard American household is now a millionaire, acc... by bfbdkcj on Tuesday October 24, 2023 @09:53PM (#38008211)
That's a lot higher than I would've thought.

I wonder if negative net worth is included in the mean and median calculations, or if it's clamped to 0.

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Re:The standard American household is now a millionaire, acc... by sokoloff on Tuesday October 24, 2023 @10:03PM (#38008281)
You don’t need to clamp for the median (unless you mean to exclude them from the dataset entirely, which is almost surely not done).
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Re:The standard American household is now a millionaire, acc... by HumblyTossed on Wednesday October 25, 2023 @01:20PM (#38015348)
Headlines like this are to keep the masses who are far far below the $1M mark pushing hard to finally* make it.

* A carrot they'll never get by hard work alone.

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