A fortune is seldom in one drawer

This Weltee Journal note argues that individuals must track the full estate, not only cash and brokerage accounts. It cites the Federal Reserve 2022 Survey of Consumer Finances: homeownership of 66.1 percent; median net housing value of 201,000 dollars for owners; retirement accounts held by 54.3 percent of families, with a conditional median of 86,900 dollars; and privately held businesses owned by 20 percent of all families and nearly half of families in the top income decile. It cites the Federal Reserve Distributional Financial Accounts, which combine the Financial Accounts of the United States with the SCF to produce a quarterly, comprehensive household wealth measure. The OECD household net worth indicator likewise includes dwellings and financial assets. The note is for households whose wealth is split across a residence, pensions, and private interests. The next step is to put those rooms on one page, including liabilities secured by the home.