People Who Work For Themselves Can Make More Money

A Look at Household Net Worth and Household Income By Age Group from the 2010 Survey of Consumer Finances

Interesting fact: Do you want a financial “A” in life?  To achieve it, and rank in the top 5% of households (making you richer than 95 out of 100 families), you and your spouse need a combined pre-tax income of $205,300 and a net worth of $1,864,100. [mainbodyad]That is according to the triennial Survey of Consumer Finance, which was…

Velocity of Money Hits All Time Low

The Velocity of Money for Beginners

The velocity of money is one of the most important economic concepts you can ever learn.  It isn’t perfect, and it doesn’t fully capture vital influences on the way a nation’s money supply behaves as driven by behavioral economic considerations such as mass panic, fear, overoptimism, et cetra, but it does have very important implications…