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Making money or being wealthy?

Date: 
Wed, 07/23/2014

Americans are worth more today than ever before, but many still struggle financially

by Patti Hurtgen, Hoard’s Dairyman Online Media Manager

As a group, Americans are the wealthiest they have ever been. This spring household financial wealth was at its peak, and with the current stock market, the two are obviously related. However, the median American household income is still recovering, and is 8 percent below 2007 levels (after inflation), according to a recent issue of The Kiplinger Letter.

The report went on to say that only about 13 percent of Americans have significant financial assets. We have been told for years to save for retirement, and people are listening. However, that “wealth” is stashed away in accounts that aren’t easily accessible without penalty.

The Kiplinger Letter covers economic forecasts, but in easy to understand, everyday language. The wealth vs. income section caught my attention. Read more


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