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Gold $1306.9 15.8
Silver $16.73 0.31
Talk to a representative: 855-242-4121

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Fed Report: Wealth Increasing Again for All Americans

According to a recent article in The Washington Post, all demographics appear, finally, to be participating in what has been a slow-to-come recovery from the Great Recession of 2008.

Wealth is again on the rise in America. What’s more, everyone is benefitting, including those historically disenfranchised from wealth opportunities.

The Post article details a Federal Reserve report indicating that, while the surge in wealth has touched every major group, the largest gains in net worth over the last three years were enjoyed by minorities, as well as Americans without a college degree.

Although the increase has not done anything to narrow the so-called “inequality gap,” it’s worth noting the snapshot of national wealth and its distribution over the last three years differs markedly from years 2010 to 2013. During that earlier period, says the Post, wealth dropped for all major demographics except whites.

More recently, however, all groups have been participating in the uptick. Economists say this trend suggests that, finally, real distance is being put between the 2008 Great Recession and the financial health of Americans today.

Overall, the return of wealth is being attributed to something very simple, but obviously important: the ability to find work. According to The Washington Post article, the unemployment rate has dropped significantly in recent years, from 7.5 percent to 5 percent (as of 2016).

Another sign of a jump in the wealth dividend, according to the Fed, is, for the first time since things went decidedly south in 2008, a majority of Americans have money invested in the stock market.

It’s an important marker. While it’s obviously difficult to have any money to invest anywhere without a job, it’s good to see that so many Americans think enough of investing to do it when they feel they have enough money to put some to work.

The reality is that it is very difficult to adequately prepare for a safe, prosperous future without having money accumulating for you in an investment account. But once you begin putting your portion of wealth to work for you, it’s just as important to be sure you’re properly allocated. While the historical performance of equities is very appealing, the significant drops that can plague the stock market may have lasting effects if you’re not properly diversified.

The fact is that the stock market has been on an unprecedented run lately. However, it’s been motoring along while conveniently ignoring a number of worrisome realities, including the fact that the national debt recently surpassed the astronomical $20 trillion mark.

So, if you’re one of those Americans who has enjoyed a wealth dividend recently and put it to work in an investment account, pay close attention to how you’re invested, in addition to the fact that you are invested.

For our part, we believe an essential component to a complete investment account for many investors is precious metals. The historical track record of gold and silver posting strong performances when equities falter is well-established. And most equities will falter.

You might be wondering if gold and silver securities, such as mining stocks, are an appropriate substitute for the real thing – bullion. In our opinion, they’re not. We believe, to enjoy the true, effective diversification that comes with owning gold and silver, you are best served by owning the physical metal that remains wholly unconnected from the stock market. As a matter of fact, you can own physical gold and silver as an IRA investment – something you won’t likely hear from your broker.

Augusta Precious Metals specializes in not only gold and silver bullion, but in helping clients acquire the right metals in the right amounts in accordance with their wishes to develop a well-rounded portfolio and protect their IRA or 401(k). If you think your wealth dividend might benefit from some investment in gold and silver, call Augusta at 855-242-4121 and learn more about how we can help you.

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Michael Dallo, CPA, JD, LL.M. is a tax attorney and certified public accountant (CPA) of Dallo Law Group, a Professional Corporation. For over 10 years, Michael has zealously represented hundreds of clients in resolving tax disputes with the Internal Revenue Service and California taxing agencies, as well as developing sound tax positions and arguments to minimize their federal and state tax liability.