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I like your formula, but I have one doesn't take into account how long you've been making that income.

I imagine that everyone's income fluctuates over time. Sometimes up, sometimes down. It seems to make sense that those changes are imbedded in the median income/ wealth statistics. No special adjustment needs to be made for the variation in an individual's income.

I was satisfied that the formula produced results that were similar to the median income and wealth by age. Thus I assume that the formula doesn't really need another layer of calculations to account for how long an individual is making a certain income. (It's in there already, kinda.) The formula should be used more as a relative measure, not an absolute one. So there will undoubtedly be times were the formula is more relevant than others. But each individual will have to make that judgement.

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