Review of Federal Reserve Survey of Consumer Finances from 2022 to 2025
The Federal Reserve released their triennial report on consumer finances from 2022 to 2025. The report is broken down to cover five sections, which include Income, Net Worth, Assets, Debt, and Financial Vulnerability. Some of the key findings include the median net worth of people 75 or older surged 37%. Households in their 30’s saw their median net worth fall 23%, as income remained flat. Owning a home splits the fortunes of 30-somethings. Fewer 30-somethings have retirement accounts. Older borrowers still owe debt with median balances above $100k. Americans fell behind on their bills at a…
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