Why Americans Don’t Feel RICHER Even Though We Have More Money

On the PBD Podcast, Jeff Snider and the Home Team discuss why rising markets can coexist with household financial stress. Stock ownership is widespread through retirement accounts, but participation varies sharply by income, helping create very different experiences of the same economy. Federal Reserve data show 58% of families owned stocks directly or indirectly in 2022, including through retirement accounts. But participation ranged from just 34% among families in the bottom half of the income distribution to 95% among families in the top decile.
Household costs provide another piece of the story. Employer-sponsored family health premiums climbed 26% from 2020 to 2025, reaching $26,993 annually. Meanwhile, September 2026 consumer sentiment has fallen to 47.8, reflecting continued pessimism about household finances. Trump Accounts are now part of the savings landscape. Eligible U.S.-citizen children born from 2025 through 2028 can receive a one-time $1,000 Treasury contribution into the new investment account, while parents, employers and other eligible contributors can also add funds.