One in five American households is asset poor, according to the Urban Institute. Asset poverty is defined as not having enough net worth (wealth) to survive for three months at the federal poverty level--or $5,580 in net worth for a family of four.
The percentage of households in asset poverty grew from 16.1 to 19.6 percent between 2007 and 2010. The asset poverty rate is highest among the youngest householders...
Asset poverty rate by age of householder, 2010
Under age 30: 43.2%
Aged 30 to 49: 29.3%
Aged 40 to 49: 19.9%
Aged 50 to 61: 13.4%
Aged 62 to 69: 8.7%
Aged 70-plus: 7.9%
Source: Urban Institute, U.S. Asset Poverty and the Great Recession