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Subject:  Re: The Net Worth of American Households Date:  1/7/2007  2:55 PM
Author:  WendyBG Number:  19315 of 35365

Here are the actual statistics.

Data from 2001
http://www.consumerfed.org/pdfs/evidence.pdf

The median net financial assets, including retirement accounts, and subtracting debt, 1998, was:

Age
Less than 35 years $0
35-44 $10,000
45-54 $20,500
55-64 $32,771
65 and older $34,550

http://www.pcf.org/venture_philanthropy/pdfs/ida_research.pdf

Almost one-third (31%) of American households have no or negative financial assets, including over 60% of Black Americans, 54% of Hispanics, and 62% of single parent households.

Nearly one in three American households possess zero or negative net financial assets.

Half of all Americans have less than $1,000 in investable assets.

The average American family holds only $3,700 in net financial assets.

[end quotes]

I doubt that the situation has improved, since 1998, since the national savings rate was positive, in 1998, but went negative, in 2005, and has remained negative, throughout 2006.
http://bea.gov/bea/dn1.htm

Charlie, you are right to be worried...perhaps more right than you even realized.

Wendy
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