Comparing Modern Wealth Vs, the Income Wealth Gap with Richard McWhorter

**Growing Wealth Gap:** As of the first quarter of 2025, thetop 10% of earners in the United States owned nearly two-thirds of thecountry’s total wealth, while the bottom 50% held just 2.5%, according toStatista.   Many young adults express a desire to save, but it'suncertain whether they are actually doing so. A survey commissioned byfinancial software firm Intuit in April found that 59% of Americans aged 18 to25 prioritize having a well-funded savings account. However, many arestruggling to achieve this goal. Among Gen Z adults aged 18 to 27 in the U.S.,only 15% regularly set aside a portion of their paycheck for savings, accordingto a Bank of America survey released last year. Additionally, less than half ofU.S. adults surveyed by Bankrate earlier this year reported that they could usetheir savings to cover a $1,000 emergency expense.   **Richard McWhorter:** As Managing Partner and PrivateWealth Advisor at SRM Private Wealth, Richard McWhorter has established areputation for guiding high-net-worth individuals and families, includingathletes and musicians, through the complexities of modern wealth management.His approach is deeply personal, combining financial expertise with a genuinecommitment to philanthropy and the broader impact of wealth.   Richard was named to the Forbes 2024 Best-In-State WealthAdvisors List, which reflects the trust and insight he provides to his clients.With 32 years of industry experience, including leadership roles at MerrillLynch and Smith Barney, he has navigated nearly every financial scenarioimaginable. Richard is dedicated to helping clients align their wealth withtheir personal values and has expertise in asset protection, estate planning,and creative fundraising for charitable causes.   His perspective on how influential individuals in theentertainment and sports sectors approach financial planning, along with theintersection of money decisions, personal aspirations, and legacy building, isboth timely and relevant. Richard welcomes challenging conversations, as hebelieves they often lead to the best outcomes.   For more information, visit: [SRM PrivateWealth](https://srmprivatewealth.com/)  LinkedIn: @RichardMcWhorter