The wealth gap: $400 billion versus the median American net worth
The world’s richest person had a net worth of $400 billion. This is the visual comparison of the U.S. wealth gap.
Ilaria D’Anca, 44, in Mesa, Arizona felt that she had everything going for her with a graduate degree in advertising and public relations, with honors. She worked 20 years as a healthcare executive, earning as much as six-figure salaries for half of those years.
But between 2016-2019, she hit a rough patch that included a career change, an unprecedented flooding of her home and property, a legal battle and a falling out with family members that depleted her savings.
“I had an 806 credit score and nearly $150,000 saved in bank accounts prior to this financial crisis,” she said. “I went through every penny of it. We had three vehicles re-possessed and lost our home to foreclosure.”
“Bad financial products,” she said, worsened her situation. “Before this experience, I had no idea of the existence of these. I had 3 traditional mortgages and government-backed school loans prior.”
Americans owing record credit card debt are carrying debt for longer
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Scripps News
What are “bad financial products”?
When you’re down and out, the last thing you need is another blow to the knees. But that’s exactly what an increasing number of Americans, including those in the middle class, say…
