Modern Wealth Management’s Post

🚨 Shocking Stats: Average US Household Income🚨 Did you know the median household income in the U.S. is around $75,000? 📊 But what does that really mean for the average family in today's economy? With rising costs and inflation, $75K may not go as far as it used to. Watch our video to dive into the surprising stats and find out how this income measures up against the true cost of living in America. 🏡💰 🔗 Click to watch and let us know — does $75,000 feel like enough? #IncomeStats #USHouseholdIncome #FinancialReality #CostOfLiving #ShockingStats #EconomicTrends

Adjusted for inflation in 2023 dollars you can see how incomes from 1967 to now.

Inflation and interest rates continue to influence savings rates among U.S. adults. According to a recent survey, 63% say inflation is causing them to save less for unexpected expenses and 45% say the same of interest rates...

The chart below shows that the top 1% of households own 35% of the wealth in the U.S., an increase from 23% in 1976. The bottom 50% households have barely anything to show. As a share of disposable income, the bottom 50% households have also seen their income share decline from 23% in 1986 to 18% currently. In fact, the decline in income and wealth share could also be seen among the middle 40% of households. This partially explains why consumer spending figures remain strong, driven by spending of the top 10% households, whereas consumer sentiment that is more representative of all income group has been downbeat. How can YOU get ahead? Working with a CFP like myself, we can develop a personalized plan to help you get ahead, instead of getting left behind.

At the national level, the middle class is typically defined as households that earn between two-thirds and double the household median income. Based on 2023 figures, that means those with an annual income between $53,740 and $161,220. Compared to its peak, inflation in the U.S. has eased substantially. According to the Bureau of Labor Statistics, the annual rate of inflation was 2.4% in September, as measured by the consumer price index. But that hasn’t necessarily led to a dramatic decline in prices; in many categories, consumers have only seen costs rising more slowly. To discover what’s making life unaffordable for middle-class Americans, click here: cnb.cx/3NLAcpI

Something has to be done if not........

The most durable political trend over the last 50 years has been a bipartisan, destabilizing shift of emphasis from the American middle class—once the pride of the United States economy—to the 1% wealthiest, the so called ‘job creators’. Since 1978, U.S. CPI inflation has risen at 2.3% CAGR (with core inflation at 6% CAGR - healthcare education and housing - the middle class trifecta). Real inflation adjusted real wages have seen no increase whatsoever in that time.

US households continued to feel pinched by inflation in late 2023 even as price pressures ebbed, the Federal Reserve reported yesterday, with most Americans saying their financial situation had changed little in the last year, while parents reported times had gotten harder. About 72 per cent of adults were doing at least okay financially as of October 2023, the Fed’s annual survey on household economics and decision-making showed. Read more: https://lnkd.in/dc8sg8TX

In a new study about financial worries, Gen Z was the only generation not to cite a recession as a top concern affecting their household finances within the next 6 months; naming inflation, housing prices and jobs instead. #employeeexperience #financialwellbeing #recession #inflation #worklifebalance #costofliving

Income Increase For the first time since 2019, median inflation-adjusted household income rose, to $80,610 in 2023, up from 2022’s $77,540. This brings median income almost back to the 2019 peak of $81,210. The rise was the result of a tight labor market and easing inflation. However, the female-to-male earnings ratio declined from 84% to 82.7%, the first meaningful decrease in two decades. Men saw wages rise 3%, vs. 1.5% for women.