CONTACT US

Pennsylvania Office

P (610) 358-8942

F (610) 358-8943

Delaware Office

P (302) 449-0111

F (302) 449-1888

OUR LOCATIONS

51 Woodland Drive
Glen Mills, PA  19342


291A Carter Drive
Middletown, DE 19709

SOCIAL MEDIA

CONTACT US

Check the background of your financial professional on FINRA’s BrokerCheck.

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. 

© 2018 Daniel A. White & Associates, LLC. All right reserved. Built by Atwood Sites.

Please reload

ARCHIVE

Please reload

BLOG TAGS

CATEGORIES

The Widening American Wealth Gap

July 15, 2019

As I wrote earlier this month, American wealth is up.

 

But as my previous post hints, the increase tends to be concentrated on the wealthiest Americans who own stocks. So then, it’s no surprise the wealth gap is widening, even among the richest people.

 

The rich are getting richer. Per Federal Reserve Data, the wealth distribution in America has become even more disproportionate since 2000.

 

In fact, in 2018, the richest 10 percent of households represented 70 percent of all U.S. wealth. In 1989, it was 60 percent.

 

Also, the share of wealth of the richest 1 percent of Americans grew to 30 percent last year. That means 1 percent of people own a third of all the wealth (it was 23 percent in 1989).

 

 

It’s pretty scary that so few people own so much.

 

The change in wealth among the top 10 percent of Americans was primarily due to that group acquiring more stocks, both of publicly traded companies and private businesses. Still, asset share gains were largest for the top 1 percent of Americans.

 

It’s not a surprise. The financial crises and resulting fallout brought upon a decline in home and stock values for the bottom 50 percent of Americans.

 

They were scared off and have yet to reenter the market. Their losses were locked in and they’re hesitant to invest again.

 

The bottom line is, while stocks and home prices have hit new highs, ownership of both has shrunk for most people. As a result, we have a wider wealth gap than at any time since the 1930s, right around the time of The Great Depression.

 

It seems storm clouds are forming on the horizon.

Share on Facebook
Share on Twitter
Please reload

CALL US TODAY!
PA OFFICE: (610) 358-8942
DE OFFICE: (302) 449-0111