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American Household Income at All-Time High

October 15, 2018

Today I want to talk about some genuinely good news that everyone can get behind – the U.S. median household income reached an all-time high in 2017 at $61,372.


It marks the fifth consecutive annual income increase, which is fantastic because it was preceded by five consecutive declines from 2008-12.



Another impressive finding is the typical American family today makes nearly $13,000 more in inflation-adjusted dollars than the typical American family in 1975. That’s real money right there. I don’t know too many people who would be upset with an extra $13,000 in their pockets.


Sometimes when income data is released, people bring up income inequality. That is not a small issue, to be sure. And there is progress on that front too.


The share of total income going to households in the top-5 and top-20 percent of earners has stayed flat since 1993. That means income inequality is stable and not getting worse.


The census also revealed that the middle class – defined as households making from $35,000 to $100,000 in 2017 – is shrinking. But it’s actually a good thing because many in the middle class have moved up and out of the middle class.


Additionally, the share of low-income households making less than $35,000 in 2017 was at a near-record low of 29.5 percent last year.


Yes, the U.S. economy has its issues, but overall the trend is positive. People are making more money and achieving a better standard of living. That’s a good thing in my book.

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This material has been prepared for informational and educational purposes only. It is not intended to provide, and should not be relied upon for, accounting, legal, tax or investment advice. Please consult with a professional specializing in these areas regarding the applicability of this information to your situation.

Andrew Wood, Dan Simon and Alison Slezak are Investment Advisor Representatives. Advisory services are offered through CoreCap Advisors, LLC., a Registered Investment Advisor. CoreCap Advisors, LLC and Daniel A. White & Associates, LLC are separate & unaffiliated entities. 

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