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Net Worth $10,400
Per Family Locally
What is the net worth, at the present time, of the aver age Rappahannock County family? What assets has it accumulated in the form of cash savings, insurance, equity in its home, automobile, jewelry, household equipment, pen- j
sion reserves, invest-j ments and the like? Most families have only a vague idea of how much they are worth. They have never taken the trouble to figure out where they stand. Their concern has been of a more immediate nature— weekly income, food bills, taxes, payments on the car, mortgage debt and such. Were they to take stock of what they own, they would I probably discover that they are richer than they imagined 1 Some guidance for them is provided in national studies of consumer finances, conducted by the Federal Reserve Board and others. They show that there is a direct relationship between income and net worth Families with very low incomes have been able to accumulate very little, while those in the upper brackets have assets equal to several times their annual income.
Applying the national yardstick to Rappahannock Coun ty and to the earnings levels in its area, the indicated net worth of the average local family figures out to approxi mately $10,400.
90.7%