Middle Class Americans Are Poor in Assets: Report


Middle class households in the United States have few financial assets and the median amounts held are well below the assets needed to fund a secure retirement, according to the National Institute for Retirement Security, a Washington-based nonprofit research and education group.

In 2019, middle-class millennials owned only 14% of their generation’s financial assets, middle-class Gen Xers 8% of their generation’s financial assets, and baby boomers only 6%.

“In America, the middle class can no longer afford to retire,” said Tyler Bond, the group’s research director. “Middle-class Americans face strong economic inequality, with ownership of financial assets highly concentrated among the wealthy. Retirement prospects for many… are bleak at best. ”

For middle-class millennial households in 2019, the average financial assets held were $ 17,802 and the median was $ 7,800. Generation X middle-class households had average financial assets of $ 62,944 and median financial assets of $ 39,000. For middle-class baby boomers, the average amount of financial assets held was $ 93,298 in 2019, while the median was only $ 51,700.

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