Not according to the latest Federal Reserve Survey of Consumer Finances, unless you are one of the truly rich. The average family's net worth at the end of 2004 was up 1.5% since 2001. The typical family in the richest 10% had a net worth increase of 6/5%, while the average family in the bottom 25% saw their net worth drop 1.5% to $13,300. The income of the average family rose only 1.6% over the three years, while debt increased from 12.1% to 15% of assets.
Where do you fit in these averages?
No comments:
Post a Comment