Household net worth reaches record $83 trillion

Fueled by higher stock and home values, Americans' net worth reached a record high in the final three months of 2014.

The Federal Reserve says household net wealth rose 1.9 percent during the fourth quarter to nearly $83 trillion.

According to The Associated Press, stock and mutual fund portfolios rose $742 billion and the value of homes increased by $356 billion.

Read more from The Associated Press.