- Job insecurity rising
- Saving fears grow
- Dreading debt
- Net losses
- An overall decline
- Robbing retirement?
Net worth is your total assets, including home equity, minus your debts. Compared to 12 months ago, is your net worth:
|Only 11 percent of respondents over 65 said their net worth was higher, lowest among the age groups.|
|Respondents over 65 were the most likely to say their net worth is lower, at 31 percent.|
|Respondents aged 18 to 29 were most likely to report higher net worth, at 26 percent.|
"There is a large part of the U.S. where real estate prices are still on a decline."I think people are dipping into savings. Major assets like real estate are under pressure and I think that makes people feel that they have less discretionary income and that they have a lesser net worth. There is also the 21 percent who feel wealthier though. The market has come back strong; if you were buying throughout this dip, you were handsomely rewarded. The irony behind a lot of this: Stocks are the only thing that people don't want to buy on sale.
- Mark Cortazzo, Certified Financial Planner, founder of Flat Fee Portfolios, Parsippany, N.J.