Wealth in the USA: a birds-eye macro view in Charts
Americans hold $153T in wealth... 👇🏾
$32T of that is in retirement accounts
Boomers and older own 61% of #wealth & 72% of equities
On average they have $100-500k in savings at retirement age
Pre pandemic, boomers used fintech the least (24%)
The bottom half of America (150M) holds just 2% of wealth
38% of Americans with degrees own 70% of wealth
Black and Hispanic populations own 8% of wealth
Much ado has been made about the personal savings rate which is at its lowest since 2008 at 3.4%...
However debt payments as % of disposable income remains low at 9.7%
Unemployment also still low at 3.6% (lowest since 2019, 1970)
Disposable income per capita is near all time highs, ex pandemic
Median household income is $71k, down from 2019 peak
Income gains mostly gained by the wealthy since 80s
Speaking better English is correlated with earning more
Self employment highest since 2008, but below peaks
Recent growth came from 1) women (+2% since 2020) and 2) Transportation and Warehousing groups
The Great Resignation continues - highest quit rates in 20 years every month since April 2021, still at 2.7%
New business starts slowed, but still elevated post Covid at 70k per month
Home sale prices remain near highs w/median at $467k
But # homes sold is dipping, hitting their lowest in 3 years
Overall mortgage debt as % of home equity is lowest since 80s
But affordability for New home owners is at all time lows
Real estate asset class maintained value better than durables and equities since pandemic
Retail investors continue to invest at highest levels in a decade post pandemic
Robinhood the leader of the retail investing movement, continues to see MAU decline
Delinquencies ticking up at all major credit card companies
Credit card interest rates at recent highs
Yet Amex saw post-pandemic record # of signups in Q3 2022
Global wealth distribution: global middle class dominated by India, China, and Asia Pacific, US is 33% of world wealth
Various regions of the world are more advanced in accessing certain wealth building products digitally
Asia leads in alt lending tech, US in wealthtech products
Share this Scrolly Tale with your friends.
A Scrolly Tale is a new way to read Twitter threads with a more visually immersive experience.
Discover more beautiful Scrolly Tales like this.