In Income a and W Wealth o of t the Av Average ge Fami mily - PDF document

In Income a and W Wealth o of t the Av Average ge Fami mily in n the he USA SA FRB: Triennial Survey of Consumer Finances The Sur Th Survey of Co Cons nsum umer Fina nanc nces (SCF SCF) is a trienni nnial sur urvey of the ba balanc nce sheet, p sh pensi sion, i income, a and o other d r demogra raphic c chara racteri rist stics o s of U f U.S. fa families. s. http://www.federalreserve.gov/pubs/oss/oss2/ ht 2/scfindex.ht html Consider these questions: • What are the trends of family income with respect to age? Education? Work status? • What proportion of income comes from wages? investments? • What is the median family net worth? What about for families in the top 10% of income distribution? • What trends do you see w.r.t. respect to age? Education? Geography? Work status? • Describe trends of debt with respect to age, education, work status, types of loans held Fa Fami mily Income ncome An Annual before-tax x income amounts in 2007 2007 dollars. Wi Within a group, half of families are above the median, and hal half ar are be below the he medi dian an.

Fa Fami mily Net Net Wor orth Ne Net worth h amounts in 2007 2007 dollars. Wi Within a grouping, half of families were above the median, and an d hal half were ere bel below the he medi edian an. Wh What Kind of Assets? Per Percen entag age e of non-fin finan ancial al an and d fin finan ancial al as asset ets hel held d by by ho househo holds ds. So Source: Su Survey of Co Consumer Fi Finances

Wh What Kind of Financial As Assets? Per Percen entag age e of fam amilies es ho holdi ding eac each h fin finan ancial al as asset et typ ype. e. So Source: Su Survey of Co Consumer Fi Finances How How Muc uch h Do Do Pe Peop ople Ha Have in in F Fin inancia ial A Assets? Me Median holdings each fi financial asset type, by income/age. So Source: Su Survey of Co Consumer Fi Finances

Fa Fami milies es Hol Holdi ding ng Debt ebt Per Percen entag age e of fam amilies es ho holding debt, what kind of debt. So Source: Su Survey of Co Consumer Fi Finances Rea Reasons sons for or Bor orrow owing ng One subtle problem with the use of these data is that, even though money is borrowed for a particular purpose, it may be employed to offset some other use of funds. For example, a family may have sufficient funds to pur- chase a home without using a mortgage but may instead choose to finance the purchase to free existing funds for another purpose. Reas Reason for bo borrowing Source: Su So Survey of Co Consumer Fi Finances