Spending: Rich vs. the Super-Rich

Only 10% of those with assets greater than $10MM said they have pulled back on personal spending. However, spending among people with assets between $1MM and $10MM is down 71%.

Source: Forbes.com, May 15, 2008

Snapshot of the Wealthiest 10% of U.S. Households

These wealthiest 10% of U.S. households have these characteristics:

• 112 million households
  
• Average annual income: $256,000
• Earn 36% of the income earned by ALL American households
• Control 70% of total net worth of all U.S. households
• Average value of financial assets: $1.3MM
• Hold 89% of the value of all publicly traded stock and stock mutual funds in U.S.
  

Source: Federal Reserve Board