A financial analyst has determined the precise points at which an American citizen’s net worth might be considered poor, middle-class or wealthy using the latest data from the Federal Reserve Board’s Survey of Consumer Finances.
Economics expert and author Geoff Schmidt has told Benzinga that such figures, calculated by subtracting liabilities from assets, vary dramatically across the country, but, broadly speaking, a U.S. household with a net worth of approximately $20,856 or less might be categorised as poor.
