The Rich Get Richer While Everyone Else Gets Poorer

What's Hot

23 Upgrades Under $50 to Make Your House Look AwesomeAround The House

Trump Worth $10 Billion Less Than If He’d Simply Invested in Index FundsBusiness

Do This or Your iPhone Bill May SkyrocketSave

11 Places in the World Where You Can Afford to Retire in StyleMore

19 Moves That Will Help You Retire Early and in StyleFamily

What You Need to Know for 2017 Obamacare EnrollmentFamily

8 Things Rich People Buy That Make Them Look DumbAround The House

50 Ways to Make a Fast $50 (or Lots More)Grow

32 of the Highest-Paid American SpeakersMake

The 35 Two-Year Colleges That Produce the Highest EarnersCollege

5 DIY Ways to Make Your Car Smell GreatCars

Amazon Prime No Longer Pledges Free 2-Day Shipping on All ItemsMore

More Caffeine Means Less Dementia for WomenFamily

7 Household Hacks That Save You CashAround The House

5 Reasons a Roth IRA Should Be Part of Your Retirement PlanGrow

30 Awesome Things to Do in RetirementCollege

Beware These 10 Retail Sales Tricks That Get You to Spend MoreMore

9 Tips to Ensure You’ll Have Enough to RetireFamily

It's not just the poor getting poorer: 93 percent of American households became worse off as the economic recovery began.

From 2009 – 2011, the top 7 percent of Americans in terms of net worth became wealthier by 28 percent, while the remaining 93 percent of Americans became poorer by 4 percent.

That works out to the bottom 93 percent losing a little more than $6,000 on average, and the wealthiest gaining nearly $700,000 on average, a new Pew Research Center report says.

In total, that’s an estimated decline of $600 billion for the bottom 93 percent, and an estimated gain of $5.6 trillion for the top 7 percent.

The main reason? The wealthiest Americans have more of their money in stocks and other financial assets, while the less affluent have more of their wealth tied up in their home. From 2009 – 2011, housing prices declined by 5 percent and stocks, as measured by the S&P 500, rose 34 percent. (The S&P has risen an additional 26 percent since, Pew says, but data on wealth for 2012 and 2013 aren’t available yet.)

The report is based on Census Bureau data, which also chose the 93/7 threshold. Dollar figures were adjusted for inflation. The full report digs much deeper into the fluctuations in asset value for 2009-2011 and breaks down net worth ranges into easy-to-understand groups such as “$25,000 to $49,999.”

Stacy Johnson

It's not the usual blah, blah, blah

I know... every site you visit wants you to subscribe to their newsletter. But our news and advice is actually worth reading! For 25 years, I've been making people richer without making their eyes glaze over. You'll be glad you did. I guarantee it!


Read Next: 9 Tips to Ensure You’ll Have Enough to Retire

Check Out Our Hottest Deals!

We're always adding new deals and coupons that'll save you big bucks. See the deals to the right and hundreds more in our Deals section.

Click here to explore 1,656 more deals!