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![Josh Zumbrun](https://crypto-chat.org/wp-content/uploads/2023/10/Never-Mind-the-1-Mini-Millionaires-Are-Where-Wealth-Is-Growing.png)
Last week the Federal Reserve revealed that last year the average net worth of American families topped $1 million for the first time, surging 42% from $749,000 in 2019.
Of course, that average is skewed by a small number of billionaires and multimillionaires. Inflation meant real wealth didn’t increase as much. And pandemic-era stimulus boosted asset values, perhaps beyond their fundamental values.
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