Why The Rich Get Richer

According to the chart below as of 2009 if your household income was above $380,000 annual, you were considered part of the elite 1%.  The 1% net worth according to the Fed data was nearly $8.5 million, that’s 70 times the median household’s net holdings of $121,000.

In this blog I will share my thoughts on why I believe the rich get richer, the poor get poorer and the middle class keeps shrinking. I will also suggest some ideas on how we might be able to join the elite 1% or decrease that number and widen the gap. Because let’s all face it, living paycheck to paycheck is not fun.