FinanceEconomicsFinance Featured Post LeftHomepage Post Right 2Your Money How Does Your Income Compare for Wealth Accumulation in Retirement By Editor - October 5, 2023 0 Share FacebookTwitterPinterestWhatsApp Table of Contents Toggle The income gap for lower-income households declined from a historic high due to enhanced benefits for retirees and wage gains for workersChart 1 Change in average disposable income for the lowest income quintile, including the contribution of each income component, the second quarter of 2023 relative to the second quarter of 2022Highest-income households gain from employment and investmentChart 2 Change in average disposable income for the highest income quintile, including the contribution of each income component, in the second quarter of 2023 relative to the second quarter of 2022Lowest-income households’ net savings decline as cost-of-living increases outweigh income gainsChart 3 Average household net saving by income quintileThe wealth gap widens relative to a year earlier but remains lower than before the COVID-19 pandemicLeast wealthy households reduce net worth as mortgage debt increasesChart 4 Change in average net worth for the lowest two wealth quintiles, including the contribution of each wealth component, in the second quarter of 2023 relative to the second quarter of 2022Youngest households’ mortgage debt declines, while affordability concerns mountChart 5 Change in average household mortgage debt by age group of major income earnerYoungest households’ debt-to-income ratio declines while debt service ratio increasesChart 6 Debt-to-income ratio by age group of major income earner Note to readersDefinitions and Terminologies Membership Required This content is available to members only. Sign up to unlock access or log in if you already have an account. Sign Up Log In
