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bodydamage t1_j6jjpyy wrote

Reply to comment by Wilmanutsfitnurmouth in I need financial assistance by CupNegative5967

So you’re saying 75% of the US has negative net worth?

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Wilmanutsfitnurmouth t1_j6jnjgi wrote

77% of Americans have more than $60,000 worth of debt, so yes

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bodydamage t1_j6jo5be wrote

Debt is not the sole metric used for measuring net worth.

Net worth = assets - liabilities

Could have $150k worth of debt but if you have $400k worth of assets your net worth would be $250k

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Wilmanutsfitnurmouth t1_j6jpgef wrote

Facts but the number I gave you is not including mortgage that’s just debt.

It would be a lot more if I added mortgage debt, but that’s debt that can create money so I didn’t include it.

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bodydamage t1_j6jplxp wrote

A mortgage is a type of debt.

You can have tons of debt and still have positive net worth.

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Wilmanutsfitnurmouth t1_j6jvgpm wrote

No doubt. But I think it’s about 68% of Americans live paycheck to paycheck, so not many people have a positive net worth even in debt.

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