Here's the Income and Net Worth You Need to Reach the Top 50% of American Households
Every three years, the Federal Reserve publishes a financial snapshot of the American population with its Survey of Consumer Finances (SCF). The report explores income, net worth, asset ownership, and debt burden across households in different economic and demographic categories.
The most recent SCF was conducted in 2022. American households reported an average annual income of $141,900 and an average net worth of $1 million.
However, averages are skewed by outliers in the data. For instance, 10% of American households control about two-thirds of total household wealth. As a result, the median -- which simply selects the middle value -- is more informative than the average when dealing with asymmetrical data.
Source Fool.com
