What’s happening to the gap between those Americans who are wealthy and
those who aren’t? It’s widening. The Federal Reserve’s new Survey of
Consumer Finances offers this perspective…

In 1995, the net worth of families at the 90th
percentile (those wealthier than 90% of families) had was $469,000, 38
times the net worth of the 10th percentile (those less wealthy than 90%
of all families), which was $12,300, measured in 2004 dollars to remove
the impact of inflation.

In 1998, those families at the 90th percentile had 49 times as much net worth ($572,100 vs. $11,500).

In 2001, families at the top had 57 times as much ($780,900 vs. 13,500).

And in 2004, the Fed says, the net worth at the 90th
percentile was $831,600 — or 62 times the net worth of the 10th
percentile, which was $13,300.

The Fed survey, the most comprehensive examination of
the assets and debts of American households, is conducted every three
years and is based on interviews with 4,522 families, including a
special sampling selected to be sure wealthy families are surveyed.
Individuals listed on the Forbes magazine list of the 400 wealthiest
Americans are excluded from that special sample.

Here is the complete text of the Federal Reserve’s report on changes in family finances from 2001 to 2004.