You are using an older browser version. Please use a supported version for the best MSN experience.

America's wealthiest households have record cash on hand

Bloomberg logoBloomberg 4/1/2019 Alex Tanzi

Wealthiest U.S. households have three times more cash than bottom 50 percent© Bloomberg Wealthiest U.S. households have three times more cash than bottom 50 percent

America’s wealthiest households are stashing their cash at record levels.

The top 1 percent have three times more in readily available cash than the bottom half, with holdings jumping from less than $15 billion shortly before the last recession to a record $303.9 billion at the end of 2018, according to Federal Reserve data released last week.

By contrast, while holdings for the bottom 50 percent of households surged almost tenfold since the pre-recession low, they’ve increased at a much slower pace than the wealthiest cohort.

Related video: Here's why you need multiple savings accounts (provided by GoBankingRates)

UP NEXT
UP NEXT


AdChoices
AdChoices
AdChoices
image beaconimage beaconimage beacon