• Home
  • Personal Finance
  • Investing
  • Business
  • Career
  • Consumer
  • Debt
  • Lifestyle
  • Retirement
  • Taxes

Personal Finance News

Latest News About Personal Finance

  • Blogger Net Worths
  • Top Personal Finance Blogs
  • Blogroll

The top 1% of Americans have about 16 times more wealth than the bottom 50%

June 23, 2021 Leave a Comment

The wealthiest 1% of Americans controlled about $41.52 trillion in the first quarter, according to Federal Reserve data released Monday. Yet the bottom 50% of Americans only controlled about $2.62 trillion collectively, which is roughly 16 times less than those in the top 1%. CNBC reports:

Wealth across all U.S. households increased during the first quarter. Overall, the net worth of households and nonprofits rose to $136.9 trillion during the first quarter, a 3.8% increase from the end of 2020, according to separate data published by the Federal Reserve on June 10, 2021. But those gains weren’t distributed equally.

The recent gains in household wealth, in particular, can be largely attributed to stock holdings, which were up about $3.2 trillion, according to the Fed. The rise in home values also played a role, with real estate holdings increasing by $1 trillion.

But some critics contend that the Fed’s low interest rate policieshave boosted the stock market, giving an edge to those who own stocks and investments. The wealthiest 10% of Americans, for example, own about 89% of stocks and mutual funds held in the U.S. as of the first quarter of 2021, according to Fed data. The bottom 50% of U.S. households hold around 0.5%.

Related

Leave a Comment Cancel reply

Must Read

  • What's the Recommended Temperature for Vacant Home in Winter?
  • How to Refinance a Paid Off Car
  • How to Cash Out Pension Plan Early
  • Peter Adeney, the Man behind Mr. Money Mustache, Earns $400,000 a Year on His Blog
  • 36% Earning $100,000 or More Living Paycheck to Paycheck
  • Buy The Least Expensive House In A Good Neighborhood
  • The Best Investment Advice You’ll Never Get
  • Amazon Cash: Now You Can Pay With Cash on Amazon
  • The Best Day of the Week to Buy Mutual Funds
  • Can HOAs Increase Property Values?

Recent Posts

  • 61% Now Living Paycheck to Paycheck
  • 36% Earning $100,000 or More Living Paycheck to Paycheck
  • Two-Thirds of Americans Live Paycheck to Paycheck
  • The Hit to Your Pocketbook From Higher Gasoline Prices: $2,000 a Year
  • Uber Now Lets You See How Many One-Star Ratings You Received From Drivers
  • Survey: 7 In 10 Americans Living Paycheck To Paycheck
  • Fed May Issue Digital Currency
  • Best Pen for Your Money

Connect With Us

  • Facebook
  • Twitter
Home · About · Terms · Privacy · Contact · Copyright © 2022 · Personal Finance News