Those figures won’t be that far apart. It will somewhat, because higher incomes will have a bigger house and more luxurious car. However, they’re putting more of their money into investments, not cost of living.
And I’ll reiterate, that’s the average for one person, not a family.
I’m having trouble finding a reference to median US living expenses, but you can cut the above number in half if you like. Multiplying it for a family of four won’t necessarily be 4x, but it’ll be more than 2x.
Those figures won’t be that far apart. It will somewhat, because higher incomes will have a bigger house and more luxurious car. However, they’re putting more of their money into investments, not cost of living.
And I’ll reiterate, that’s the average for one person, not a family.
With 1% owning half the wealth, you are claiming average and median aren’t far apart?!
I’m having trouble finding a reference to median US living expenses, but you can cut the above number in half if you like. Multiplying it for a family of four won’t necessarily be 4x, but it’ll be more than 2x.