Asset Ownership, Not Income, Is the True Divide Between Financial Security and Fragility
By
Liora Daven
Summary
The article argues that income level alone does not determine financial security, citing that 41% of Americans earning $300K-$500K and 40% of those earning over $500K describe themselves as living paycheck to paycheck. The author suggests that asset ownership (wealth), not income, is the true dividing line between financial stability and fragility in America.
Source
bskyAsset Ownership, Not Income, Is the True Divide Between Financial Security and Fragilitymedium.comKey quotes
· 4 pulledForty one percent of Americans earning between 300,000 and 500,000 dollars a year describe themselves as living paycheck to paycheck.
Forty percent of people earning above 500,000 dollars say the same thing.
People earning a third of a million dollars annually, people in the top few percent of all earners, are financially fragile.
If income does not explain financial security, what does?
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