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Family Net Worth
Over $12,000 Here
Are Rappahannock County residents richer than they think?
What is the net worth of the average local family, taking into account its cash savings, the equity in its home, its car, investments, insurance, pension reserves, clothing and the like?
A family balance sheet, in which the assets are listed in one column and the liabilities in another, may prove to be an eye-opener, as most people have never figured out how much they have accumulated over the years.
They know, in a general way, that they are better off than they once were, in most cases, but they have never worked it out in dollars and cents.
Some help in this direction is now available through national studies made by the Federal Reserve Board, the Institute of Life Insurance and others.
They find that the earning capacity of a family and its net worth are directly related. Those in the higher brackets have assets equal to several times their annual incomes while those with modest incomes have accumulated DroDortionatelv less
81.6%