Read between the lines?
In the last three years, upper income Americans have increased their essential ‘nest egg’ by about $44K. The middle class? Stagnant.
Over the past three decades, the rich group — “upper income” above — has doubled their nest eggs; the middle class — “middle income” — has increased by 2.3 percent in the same time frame.
More here, including the idea that this is essentially a record high in terms of wealth gap.
In my mind, even though “middle class” is a very hard-to-define-and-means-different-things-to-different-people term, I would argue it’s pretty much a dead concept — especially in big cities. Inherited, kept wealth is everything nowadays. Way smarter people than I have noticed this.
