UnThreaded | Threaded | Whole Thread (28) | Ignore Thread Prev | Next
Author: WendyBG Big gold star, 5000 posts Top Favorite Fools Top Recommended Fools Feste Award Winner! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 35365  
Subject: Re: The Net Worth of American Households Date: 1/7/2007 2:55 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 7
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
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (28) | Ignore Thread Prev | Next

Announcements

Post of the Day:
Apple

Apple and Ninety Years Ago
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement