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The Online Advisor - February 2000
New survey shows American households are getting richer
A recent government survey revealed that the median net worth of American households has increased almost 18% from 1995 to 1998. The "median" net worth for 1998 was $71,600, meaning half of all households had a net worth above $71,600, and half had a lower net worth.
The percentage of households owning stock increased during this time period as well. In 1995, 40.4% owned stock; that number increased to 48.8% in 1998.
The survey substantiated the benefits of investing. It also showed that education has a direct effect on earnings. Households headed by an individual with some college education enjoyed an increase in median income from 1989 to 1998. Where the head of the household had not graduated from high school, median income fell during this time period.