Nine years into the second-longest bull market run in history, experts say the level of total American net worth compared with income has reached a record.
They also say that, since the Great Recession ended in June 2009, the disparity between net worth and income south of the border has soared, attributable in large part to the growth in financial assets, which have increased by $33.9 trillion, compared with $10.4 trillion in non-financial assets.
What this means is that American wallets have grown fatter from the accumulation of financial assets like stocks and mutual fund holdings than they have from gains in their homes and other physical assets like autos.
In all, total net worth of $98.75 trillion is now 6.79 times the $14.55 trillion in disposable income for households as of the fourth quarter, according to Fed financial accounts figures. That's up from 6.71 times in the third quarter.
