Journal Article

Asset building and the wealth gap

Abstract: Building and maintaining financial security is increasingly difficult for a growing portion of American households. Wealth is less prevalent in middle-class households and increasing among the already well-to-do. At the same time, poverty is growing and concentrating disproportionately among the nonwhite population. As the cost of living outpaces income and wealth accumulation, a majority of U.S. households are ill-prepared for financial emergencies or retirement.

Keywords: Assets (Accounting); Wealth; Retirement income; Finance, Personal; Saving and investment; Income;

Bibliographic Information

Provider: Federal Reserve Bank of Dallas

Part of Series: Banking and Community Perspectives

Publication Date: 2006

Issue: 3