by Michael Tarsala
The U.S. middle class suffered the “worst decade in modern history,” based on the latest Pew Research Center findings: Wages, net worth and living standards all took a hit.
Shockingly, the middle class saw net worth decline 28% from 2001 to 2010, erasing two decades of gains. The upper income bracket increased its net wealth over that same timeframe.
Look what happened to mean family income 2000-2010:
Age played a role in the amount of economic pain you may have endured. More people ages 45 to 64 became low wage-earners than made it to the ranks of the highly paid in the past decade, according to the findings. The situation was even worse for those ages 30 to 44.
Yet income status increased dramatically for middle-class people in the U.S. age 65 and older over the same period.
It's clearly been a very tough 10 years for many.
Even if you are not rich and your net worth has taken a hit, Covestor may still be able to help you meet your long-term investment goals.
One of the main benefits of investing with us -- apart from great service -- is that we will set you up with an account where your money is truly separate from everyone else’s money. It's not sloshing around in a pool run by us or some third party, and there is no one earning interest on it.
You can get started with as little as $10,000. Some private wealth management firms require as much as $1.5 million for similar separately managed services.
You can see your balance changes on a daily basis, make investment changes extremely quickly, and add or pull your money at your complete discretion. We’re here to help guide you and help you along the way, too.
We would welcome the chance to talk to you about our investment models and to help you decide if one or more of them might be right for you.
Give us a call, at 866-825-3005 X 703. We are here in the New York office Monday to Friday from 9 to 5 Eastern time (usually later, but that’s when you are sure to reach us.)