ABSTRACT
Stagnant incomes and falling wages are only part of the decline in the well-being of working Americans. A family's standard of living, as well
as its ability to cope with financial emergencies, are affected by its wealth. For example, financial assets, such as money in a bank account or stocks or bonds, can help a family make ends meet during periods of illness or unemployment. Tangible assets, such as a home or a car, can directly affect a family's quality of life and the ease with which it meets its needs for housing and transportation. Families also need to accumulate wealth for their future needs, such as retirement income or college expenses and tuition for children.
