A 100% difference between the highest average income ($78,000) and the lowest average income ($38,000) is significant. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. As you can see, the percentage of African Americans has grown by almost 5% since 2010. As a result, African Americans have been a a disadvantage when it comes to accumulating wealth compared to caucasians. Lawmakers in India on the other hand earn $474,484. Unfortunately, the average net worth and average income for African Americans remains below most racial groups. Instead of freaking out and selling all your stocks during the mid-March 2020 stock market meltdown, you could have read a logical article about predicting a stock market bottom and bought stocks and profited instead. He is a millionaire, thanks to the huge salary he receives on monthly basis. what does your comment point to, actually? Racism is systemic and endemic in America, buying real estate curing the COVID-19 pandemic, A 30% overrepresentation of Asian readers (35% FS readers vs. 5% of US population). This means the 109 senators in Nigeria earn a total sum of N1, 406, 357,240.00 for their four years term. Publish your articles and forecasts in our website. Start building your passive income portfolio to give yourself more options versus others who just rely on a day job income. The allowances mentioned earlier are broken down as follows: After a four year duration in the national assembly, the senator is paid an extra amount of N24,000,000. Anybody who started reading Financial Samurai since its 2009 beginning has probably crushed the average American in terms of wealth creation because we’ve been talking about investing in the stock market, bond market, and real estate market all this time. Feel free to peruse my most popular articles and see for yourself. I’ve been publishing 3X a week on Financial Samurai since 2009 an won’t stop in order to help as many people reach financial freedom as possible. The most popular articles relate to retirement savings, investing, and earning more money. Aside his basic salaries as a senator, he is also given a host of allowances that make his total take-home pay really mouthwatering. Below is a more detailed racial breakdown by the Census Bureau from 2010 and 2000. The purpose of this write up is to give you information about the actual amount the Nigerian senator receives as pay-pack every month. Direct access to our calendar releases and historical data. What’s interesting to note is that based on my survey of roughly 3,000 readers of Financial Samurai, one of the largest personal finance sites in the world with over 1.5 million pageviews a month, there is roughly: A 30% overrepresentation of Asian readers on Financial Samurai is startling. This is just the basic salary. Download historical data for 20 million indicators using your browser. About the Author: Sam worked in investment banking for 13 years at GS and CS. This is actually a third of what the house of representative members earn. Disposable Personal Income in Nigeria increased to 19718833.62 NGN Million in the fourth quarter of 2019 from 18878061.31 NGN Million in the third quarter of 2019. And when your finances are really good, you can even spend your time and money helping other people. However, the federal government at a point had to reduce the money by N30 billion, which reduced the total cost of keeping the senators to N120 billion on annual basis. 2007-2019 Data | 2020-2022 Forecast | Historical. Nigerian American Alliance (NAA). The average income for Hispanics is at roughly $45,000 which correlates with the retirement savings by race chart and wealth charts above. Now, I can just log into Personal Capital to see how my stock accounts are doing, how my net worth is progressing, and where my spending is going. A recent survey by Renaissance Capital of the booming Nigerian middle-class delivered some interesting results. Senators in the United States of America on the other hand earn $3,409,422. Even as the stock market rebounds to a new record high, everybody needs to stay diligent. The best way to build wealth is to get a handle on your finances by signing up with Personal Capital. The average income for African Americans is about $38,000. The other allowances he takes home makes the basic salary look more like a child-play; the Nigerian senator takes home total of N9, 525,985.50 as allowance on annual basis. Salaries of Nigerian Senators: A Detailed Breakdown, Map of Lagos State (+ Facts about Lagos State), Nigeria’s President and Vice President’s Salary Structure, North East States in Nigeria: The Full List, Local Governments in Nigeria: The Full List, Newspaper/periodic allowance, house maintenance. It’s that simple. They are a free online platform which aggregates all your financial accounts on their Dashboard so you can see where you can optimize. According to the Urban Institute, the average net worth of African Americans is $19,049 compared to $130,472 for Whites, and $12,329 for Hispanics. A 5.3% underrepresentation of African American readers (7% FS readers vs. 12.3% of US population). As of 2020, African Americans account for roughly 17% of the United States population. The majority of middle-class Nigerians shop at open-air markets. In 2012, Sam was able to retire at the age of 34 largely due to his investments that now generate roughly $250,000 a year in passive income boosted by his investments in real estate crowdfunding. This is just the basic salary. In the Philippines, senators earn $4,497,957 on annual basis. Either someone is fudging the numbers, or have their arithmetic upside down. But we should also conclude that over time, those who read personal finance websites tend to get richer than those who do not. Senators in Australia earn a total of $646,230 per annum. These topics are relevant to all races. Racism is systemic and endemic in America. Unfortunately, the average net worth and average income for African Americans remains below most racial groups. Every year, the Nigerian government spent N150 billion naira on the national assembly. Asian median household income leads the way at roughly 30% higher than White median household income. Parliament Members in the United Kingdom earn total sum of £494,285.43. Read more personal finance sites. The basic salary being received by the Nigerian senator is almost higher than what the president receives on annual basis, especially after President Muhammadu Buhari slashed his salary and that of his vice by 50%. Soak up as much information as you can and share your favorite articles with as many people as possible. Notify me of follow-up comments by email. Before Personal Capital, I had to log into eight different systems to track 33 different accounts (brokerage, multiple banks, 401K, etc) to track my finances. You can input various income and expense variables to see the outcomes. Conversions suggest Nigerian Senators actually make the lowest wages including, allowances at 37000 usd pa. He received his undergraduate degree in Economics from The College of William & Mary and got his MBA from UC Berkeley. Nigerians fight for your right. Lawmakers in Kenya earn $968,013 annually. Formerly known as the Nigerian American Friendship Fund, the NAA was founded in 1988 and has a membership of 300 business people, government officials, and educators interested in Nigeria and American-Nigerian relations. Yes, we can hypothesize that those who are already financially savvy care more about financial information than those who aren’t. The pay will also be broken down so that you can know what they get paid for. I’m absolutely positive we’ll see a tremendous improvement in our finances over the next generation. A Nigerian senator takes home N2,026,400.00 on annual basis. If this is added to the basic salary and other allowances earlier outlined, each of the 109 senators earn up to N33, 992,360. In total, the federal government has to spend N2, 625, 810.00 on each senator for accommodation, gratuity, furniture and vehicle loans. But since 70%+ of Financial Samurai’s traffic is from search engines like Google with traffic coming from all over the country and the world, and only 5 out of 1,397 of my article’s have titles with “Asia,” “Asian,” or “Chinese,” one can assume a smaller percentage of the 30% overrepresentation is due to the site’s name and my race. Despite the global pandemic and the tens of millions of unemployed people unemployed in America as a result, the one good thing to come out of 2020 is the increased awareness of the injustices and racism African Americans face. Despite the global pandemic and the tens of millions of unemployed people unemployed in America as a result, the one good thing to come out of 2020 is the increased awareness of the injustices and racism African Americans face. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. If this is added to his basic salary, the senator earns a total of N12, 902,360.00 on annual basis. An average Nigerian senator is a rich man in all sense of the word. Now let’s look at the Economic Policy Institute data for median and average wealth for Whites and Blacks. As Black and Hispanic Financial Samurai personal finance readers appear underrepresented and correspond with Census Bureau-provided lower income and wealth figures, and as Asian readers appear overrepresented and correspond with higher income and wealth figures, it seems clear there’s a correlation between higher income/wealth and reading personal finance articles. One of their best tools is the 401K Fee Analyzer which has helped me save over $1,700 in annual portfolio fees I had no idea I was paying. Definitely check to see how your finances are shaping up as it’s free. In comparison with what obtains on global level, the Nigerian senator stands out to be one of the most paid, if not the most paid, senators in the world. The average wealth for African Americans is $95,261 and the median wealth for African Americans is just $11,030. Financial Samurai was started in 2009 and is one of the most trusted personal finance sites on the web with over 1.5 million pageviews a month. Despite a low average net worth for African Americans, this can change through better wealth management. You don’t have to be rich to get a great education because access to information is now free. You just click on the Investment Tab and run your portfolio through their fee analyzer with one click of the button. Of all the Nigerian immigrants he reached in his random phone surveys 1994 through 2007 — 45 households total — Klineberg said 40 percent of the Nigerians said they had post-graduate degrees.

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