Have you noticed a decline in your wealth? If so, you are not alone. According to a recent Federal Reserve (Fed) report, American household net worth — assets minus liabilities —has dropped at the second-fastest rate in history since 1959, behind only the recession of 2008-2009. The report stated that a net worth falloff of .84 trillion happened during the first three quarters of 2022. During the same period in 2021, an increase of .78 trillion occurred. For 2020, the gain in net worth was .80 trillion. Net worth at the end of the third quarter was 3.3 trillion. Most...

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