Financial Security Index
Financial Security Index
smart spending
May 2011: Net worth

May 2011 Financial Security Index » Net Worth

Q:

Please think about your net worth, or your total assets including real estate equity minus your debts. How would you describe your net worth compared to 12 months ago?

Men were more likely than women to feel their net worth is higher, 26 percent versus 18 percent.
Respondents aged 65 and older were least likely to feel their net worth is higher, at just 13 percent.
The groups most likely to report higher net worth were college graduates, at 37 percent, and those earning more than $75,000, at 38 percent.
Daniel Penrod

"The idea that 2005 was normal has gone away, and people have realized that what we experienced during the bubble isn't likely to come back any time soon."

It was interesting to note that age was a key factor in people feeling more or less wealthy. In terms of feeling a lower (net worth) today, the lower dollar and the lower buying power is impacting those on fixed incomes and some are viewing it as an indirect tax on them, or indirect inflation because typically they are not getting a cost-of-living adjustment or they are not able to work overtime to increase their income. Their income is fixed and they are being hurt indirectly by the current market in terms of purchasing power.

- Daniel Penrod, senior industry analyst, California Credit Union League

« Back to the Financial Security Index poll.

advertisement

Show Bankrate's community sharing policy
          Connect with us
MORTGAGE HOME EQUITY AUTO CDs CREDIT CARDS
Product Rate Change Last week
30 year fixed 4.06%  0.22 4.28%
15 year fixed 3.17%  0.07 3.24%
5/1 ARM 3.52%  0.11 3.41%
 
View Rates in your area Next
Product Rate Change Last week
30K FICO-based HELOC 4.36% --0.00 4.36%
50K FICO-based HELOC 4.06% --0.00 4.06%
100K FICO-based HELOC 3.91% --0.00 3.91%
 
View Rates in your area Next
Product Rate Change Last week
60 month used car loan 2.79%  0.10 2.69%
48 month used car loan 2.98%  0.06 2.92%
60 month new car loan 3.23%  0.04 3.19%
 
View Rates in your area Next
Product Rate Change Last week
1 Year CD 0.94%  0.01 0.93%
2 Year CD 1.13% --0.00 1.13%
5 Year CD 1.76%  0.00 1.76%
 
View Rates in your area Next
Product Rate Change Last week
Balance Transfer Cards 15.77%  0.06 15.71%
Cash Back Cards 16.44%  0.03 16.41%
Low Interest Cards 10.96%  0.10 10.86%
 
Next
advertisement
FRUGAL NEWSLETTER

Discover new ways to cut costs and save more every day. Reduce your spending, not life’s pleasures. Delivered weekly.

advertisement
Partner Center
advertisement

Connect with us