Brace yourself, this is how much America’s 1% has saved
Some of these people are not like the others.
The median American household currently holds just $11,700 in savings, according to a new analysis of Federal Reserve and Federal Deposit Insurance Corp. data by personal-finance site Magnify Money. Median balances (the midpoint value) are lower than the average savings rates. The top 1% of households in the U.S. by income have a median savings of $1.1 million across a variety of saving accounts. The bottom 20% by income have no savings accounts and the second lowest 20% income earners have just $26,450 saved.
more:
http://www.msn.com/en-us/money/savingandinvesting/brace-yourself-this-is-how-much-america%e2%80%99s-1percent-has-saved/ar-BBMo9uM?ocid=ientp2
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