Also median of 19. Meaning quite good bit would have started saving before age of 18 right? That sounds off... Considering what type of jobs they would have had.
> Meaning quite good bit would have started saving before age of 18 right?
Not necessarily. It is quite possible for the median to be 19 even with nobody saving before the age of 19.
Consider a case of 10 people. 6 started saving at the age of 19. 4 started after the age of 19. 0 started saving before the age of 19. The median age is: 19.
> That sounds off... Considering what type of jobs they would have had.
Why?
1. Jobs aren't the only way to get money.
2. Typically parents cover living expenses at that age, so job income is pure profit.
Not necessarily. It is quite possible for the median to be 19 even with nobody saving before the age of 19.
Consider a case of 10 people. 6 started saving at the age of 19. 4 started after the age of 19. 0 started saving before the age of 19. The median age is: 19.
> That sounds off... Considering what type of jobs they would have had.
Why?
1. Jobs aren't the only way to get money.
2. Typically parents cover living expenses at that age, so job income is pure profit.
3. You don't need huge sums of money to invest.