It was hard not to be shocked by last week’s Federal Reserve report showing that the typical American family’s net worth fell 39% between 2007 and 2010. Similarly, figures released by the U.S. Census Bureau on Monday showed a 35% decline in net worth between 2005 and 2010. For people between the ages of 35 and 44, the drop was a staggering 59%, although the dollar amounts were smaller.
It was hard not to be shocked by last week’s Federal Reserve report showing that the typical American family’s net worth fell 39% between 2007 and 2010. Similarly, figures released by the U.S. Census Bureau on Monday showed a 35% decline in net worth between 2005 and 2010. For people between the ages of 35 and 44, the drop was a staggering 59%, although the dollar amounts were smaller.
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