Do you fall in America's lower, middle, or upper class? Here's how your income stacks up compared to the rest of the US population

 

https://news.yahoo.com/fall-americas-lower-middle-upper-133000384.html

 

 Chris Clark
Thu, December 29, 2022 at 9:00 AM EST

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Pew points out that the wealthiest households are the only ones to have seen gains in wealth after the start of the Great Recession. Between 2007 and 2016, the median net worth of the top 20% increased 13% to $1.2 million.

Meanwhile, the lowest earners saw their wealth decrease by at least 20% over that period of time.

The result of that is the wealth gap between America’s richest and poorest families has grown into a chasm — more than doubling between 1989 and 2016.

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But what’s important to highlight when discussing lower-income households is the opportunities for advancement. While middle-class households rely on home equity to build their net worth and upper-class families rely on financial assets and investments to build their wealth, Pew found lower-income earners have fewer options to get ahead.

In fact, research indicates that the wider the wealth gap, the harder it is for lower-income Americans to move up the class ladder.

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