Insights into the 1%: Wealth Study of the USA Reveals Impressive Asset Data

The oft-cited "1%" describes the wealthiest households in the USA. But what does it mean to belong to this exclusive club? A closer look at the net worth underlying this group offers valuable insights into the financial landscape of America. Net worth, which is the value of all possessions minus debts, is crucial to understanding real wealth. While some earn a high income, their net worth remains low due to debts. Others with modest income, such as retirees, can hold millions in assets and thus count among the 1%. According to the latest survey by the Federal Reserve Bank of St. Louis, the 1% comprises approximately 1.3 million households in the USA. These households hold about 30.8% of the national wealth, which corresponds to an impressive amount of 49.4 trillion US dollars. The average net worth of a household in this group is about 38 million dollars. A remarkable factor is that the core wealth of the richest Americans is often invested in stocks. In fact, 1% of households own half of all corporate stocks and mutual funds. Many among them have also acquired wealth through inheritances or business ownership. Economists frequently highlight the 1% to draw attention to income inequality. Their enormous wealth opens up opportunities to them that remain inaccessible to most people. The latest Survey of Consumer Finances shows that the median net worth of an American household is about 192,900 dollars. Compared to the approximately 13 million dollars of the top 1%, this is a significant difference that clarifies the understanding of asset distribution. To assess their own wealth, individuals should focus on continuous saving and investing. After all, it is about achieving financial goals in one's own way rather than chasing after external standards.