According to the Flow of Funds Accounts of the United States,the largest financial asset of U.S.households is ____.

Question

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According to the Federal Reserve's Flow of Funds Accounts, the largest financial asset of U.S. households is pension reserves, which includes retirement savings in 401(k)s, IRAs, and other types of pension plans. As of Q1 2021, the total value of pension reserves was $35.6 trillion, while mutual fund shares, corporate equity, and personal trusts were valued at $14.4 trillion, $21.4 trillion, and $1.4 trillion, respectively.