The United States is still slowly recovering from the recession, and incomes across the nation have declined in recent years. Nationwide, median household income was $51,771 a year during the three-year period of 2010 to 2012, a decline of 5.8% compared with the previous three-year period of 2007 to 2009, when the U.S. median household income was $54,951 a year.
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A new report finds that Texas holds an estimated $140 billion in “petro-wealth” in proved reserves. About $110 billion of that total is owned by corporations, $22 billion owned by individuals, $5 billion by trusts, and the remaining $3 billion owned by non-profits, government, and educational and religious institutions. The figure assumes a price of $94.89 per barrel. The biggest share of the oil wealth – around $47 billion – is located near Houston.
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Wealth comes in many forms, but only two general categories: tangible and financial. Tangible wealth is made up of real, physical things like buildings, farmland, oil wells, commodities, etc. These things can be seen and touched, and – crucially – they don’t have counterparty risk. That is, no one else has to make good on a promise for a tangible asset to have value.
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WASHINGTON (AP) — The gap between the wealthy and the poor is most extreme in several of the United States’ most prosperous and largest cities.
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Give us your tired, your super-rich, your huddled millionaires.
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CALGARY – According to the second annual BMO Household Savings Report released Thursday, Albertans saved an average of $9,635 last year which was higher than the Canadian average of $8,764.
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Wealth-X and Savills are out with a new report showing how the super-rich (those with $30 million or more in assets) spend money on real estate.
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This map is useful if you want to rub elbows with the wealthy.
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Wealth tends to create more wealth, but a rich background is not the only way to the top. Some of the world’s wealthiest people started out dirt poor.
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There’s an oft-cited study out there that says money does buy you happiness — but only up until a certain point. It says that after you make $75,000 per year, increasing your income is not going to make you any “happier.”
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