- IPhone 6 Is Expected to Include a Mobile Wallet
- SAT Tutor Caters to the Kids of the Very Wealthy
- Report: Students Should Beware of Campus Debit Cards
- The Best and Worst Things to Buy in September
- 7 Tips to Slash the Cost of Car Repairs
- Millennials Prefer Plastic to Cash for Small Purchases
- Many Believe That Carrying a Balance Will Improve Their Credit Score
- The Top-Rated Credit Cards in the US
According to a new report from the nonprofit Economic Policy Institute, the richest 1 percent of American households have 288 times more money than the median American home.
That’s an average net worth of $16.4 million for the 1 percent, compared to an average of $57,000 for the median household in 2010. The report also says the income gap is growing, with the top 1 percent owning 35 percent of American wealth.
The site’s not just a bunch of math and words – it has some interesting tools and charts to play with. Here’s one that lets you look at who benefited (or suffered) from economic conditions over a range of years you pick. And here’s a chart showing the average wealth in 20 countries: America is 17 on the list, just above Greece and far below most of Europe, Australia, and Japan.