If you didn't know already, the Federal Reserve has confirmed that your net worth declined between 2007 and 2010. Net worth is defined at the total value of assets such as homes, bank deposits and stocks, minus debts such as mortgages and credit cards. The biggest factor in the decline was the drop in home values. Adjusted for inflation, family net worth is the same as it was in 1992. Achy Breaky Heart or Remember the Time anyone? The complete report is online at http://www.federalreserve.gov/pubs/bulletin/2012/pdf/scf12.pdf.
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