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[HN] Mean American household is now a millionaire, according to the Federal Reserve (finance.yahoo.com)

submitted 1 year ago by irradiated@radiation.party to c/technews@radiation.party

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[–] sbv@sh.itjust.works 1 points 1 year ago* (last edited 1 year ago)

Even when looking at the median ... the typical American household was worth $192,900.

The mean is substantially higher than the median because it is boosted by the top 10% of earners, who have a net worth, on average, of $6.63 million, according to the Fed. Meanwhile, households in the bottom 10% had a mean net worth of $5,300 in 2022.

Ouch.

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