Asset building and the wealth gap

Community Affairs Office

Banking and Community Perspectives, 2006, issue 3

Abstract: Building and maintaining financial security is increasingly difficult for a growing portion of American households. Wealth is less prevalent in middle-class households and increasing among the already well-to-do. At the same time, poverty is growing and concentrating disproportionately among the nonwhite population. As the cost of living outpaces income and wealth accumulation, a majority of U.S. households are ill-prepared for financial emergencies or retirement.

Keywords: Assets (Accounting); Wealth; Retirement income; Finance, Personal; Saving and investment; Income (search for similar items in EconPapers)
Date: 2006
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