Household Wealth — Rising

The Federal Reserve says the wealth of U.S. households rose to a record high at the end of 2023. The Fed said positive gains in the stock market has offset the drop in property values. The final tally — $156.2 trillion.

That’s an increase of 3.2% from the third quarter’s $151.4 trillion. Breaking it down:

  • Mutual fund equities, life insurance policies & retirement accounts rose $4.7 trillion to $47.6 trillion
  • Standard & Poor’s 500 Index saw returns of 11.7%
  • Real estate values dropped $0.6 trillion to about $49 trillion
  • Savings certificates & money market mutual funds balances rose $270 billion to $18 trillion

Deposits — as a share of overall household net worth — fell 11.5%. That’s the lowest total in four years. On the positive side, stock shares jumped 30%.

Source link: Insurance Journal — https://bit.ly/3TtHZfr

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