Chicago Relocation

Are the Rich Getting Richer?

November 28, 2009

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John D’Ambrogio

New data provided by The New  York Times suggests that the “wealth gap” is actually getting a little tighter.  You know the saying “The rich get richer and the poor get poorer” (sometimes a different word was used!).  But this 35 year trend may be retracting a bit with the latest recession.  A lot depends on the stock market.  Most experts think this recent “rally” will again be followed by either a bear cub or a grizzly.  Time will tell.

In the past 12 months,  the number of Americans with a net worth at or above $30 million saw a good 25% decline, according to CapGemini and Merrill Lynch Wealth Management .  A main cause is the fact that dividends have fallen (the steady income of the rich, primarily).

Richie Rich