The Average American Spends $3.3M over Their Lifetime
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Re: The Average American Spends $3.3M over Their Lifetime
#2More on cars than kids? Wow. I am genuinely surprised.
Re: The Average American Spends $3.3M over Their Lifetime
#3More on cars than kids? Wow. I am genuinely surprised.
Hah! Unfortunately cars don't become more self sufficient as they get older
Re: The Average American Spends $3.3M over Their Lifetime
#4More on cars than kids? Wow. I am genuinely surprised.
I look around at my neighbors, my friends... everyone must be doing better off than me OR everyone is just constantly living in debt and considering a car payment a permanent "tax to live" because I see people with new cars (if used, very late model) everywhere.
I am terrified of one of my cars breaking (both Toyotas, thankfully, fingers crossed, knock on wood). I dread having to buy another car when these are done.
Re: The Average American Spends $3.3M over Their Lifetime
#5I don't know why this would be unbelievable or "whopping." $3.3M over 60 years of adult life (age 20 to 80) is $55k/year. That's pretty close to the median American income.
Re: The Average American Spends $3.3M over Their Lifetime
#6More on cars than kids? Wow. I am genuinely surprised.
I’m not surprised at all. People think kids are way more expensive than they really are, and think that cars are much cheaper than they really are.
Re: The Average American Spends $3.3M over Their Lifetime
#7More on cars than kids? Wow. I am genuinely surprised.
I’m not surprised at all. People think kids are way more expensive than they really are, and think that cars are much cheaper than they really are.
My kid’s afterschool care costs more than my monthly car payments + insurance (and I have a pricey new EV). If he was still in daycare, I would get creamed even harder. Thankfully this might end in a few years, but daycare costs are no joke, and then there are lots of activity costs.
I guess it depends on how often you buy a new car, some people get new cars every 3-4 years.
Re: The Average American Spends $3.3M over Their Lifetime
#8More on cars than kids? Wow. I am genuinely surprised.
Well, when you separate out housing, cars, health insurance, vacations, and education that doesn't leave a lot to fall specifically under the category of "children." If you pay for daycare, that's only a few years. For our family, the big expenses of having kids have been moving from a 1BR apartment to a 4BR house and getting a minivan. College (effectively planning to cover in-state tuition for them) will be a big one when the time comes.
Re: The Average American Spends $3.3M over Their Lifetime
#9I don't know why this would be unbelievable or "whopping." $3.3M over 60 years of adult life (age 20 to 80) is $55k/year. That's pretty close to the median American income.
Which … would be exactly what you expect, even though it’s likely inflated a bit - if I buy a house for $400k this year and sell it in ten for $500k and buy another one for $600k did I spend $600k overall or $1m? You could even argue for $500k.
Re: The Average American Spends $3.3M over Their Lifetime
#10Not sure that the 1% (or 0.1%) isn't skewing the average. Would love to see what the median American spends over their lifetime.
What I'm saying is that the 400 billionaires in the Fortune 400 are likely pulling the average up.