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[HN] Mean American household is now a millionaire, according to the Federal Reserve
(finance.yahoo.com)
What, with like 50 rich people tipping the scale?
this post was submitted on 25 Oct 2023
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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.