Today I’ve got some intriguing financial statistics you may find enlightening, laughable, or perhaps even a bit sad or puzzling. They come from the Statistic Brain Research Institute, which strives to provide “accurate and timely statistics…to educate, assist, and sometimes entertain.”
“I only believe in statistics that I doctored myself” ~ Winston S. Churchill
Occasionally I visit their site when researching for an article since they claim to provide “numbers on every subject.”They’ve seven main topics – business, media, finance, geographic, demographic, technology, and sports, and while their information may not always be the latest and the greatest, it can still be revealing.
“Facts are stubborn things, but statistics are pliable.” ~ Mark Twain
Whether these statistics strike you as seemingly accurate or way off base, I hope they’ll leave you thinking. Thinking about how you’re doing with your own finances. Examining whether you’re making the right choices today for financial freedom tomorrow. Considering if you are spending too much on useless stuff or are you investing enough for a secure retirement? Whatever you think, please don’t go dreaming of Cessnas and Mercedes before you’ve balanced your checkbook.
“There are three types of lies — lies, damn lies, and statistics.” ~ Benjamin Disraeli (or not)
Intriguing Financial Statistics
Okay, maybe not extraordinarily intriguing but at least interesting. All statistics were gathered in the last year, with information no older than 2016.
Net Worth – How do you compare with your age group?
Investing – Over 50% of Americans say they don’t have enough money to invest.
Bankruptcy – In 2016, over 780,000 Americans filed for bankruptcy.
Do You Balance Your Checkbook? – A whopping 69% of us don’t!
Retirement – Ugh! Clearly, the personal finance community needs to help educate the masses.
Women’s Retirement – Talk to your mom, your sister, your aunts, daughters, nieces, friends, help these women.
For those thinking about purchasing or renting a private jet – some numbers for your budget.
For those dreaming of a Mercedes or Jaguar – insurance rates you may face.
And finally, some statistics on resolutions – If you set any, are you still going strong?
I’m often astounded at financial statistics like these, especially the retirement and net worth statistics. Since I’ve immersed myself in the FI community and made good financial progress over the past few years, I sometimes forget that not everyone has gotten rid of their sexy vehicles for sexier finances. Some are still rolling the dice on their future. If that’s you, please reach out for help so you can get on your own secure path seeking financial independence.
Anything surprise you here?
For some additional spending statistics, check out Statistic Brain’s ‘How We Spend Our Money Results‘ to see how some 4,000 people answered questions about how they handle money, what factors influence their spending, and how they react when asked to share or spend their money freely.