Wealth Gap Between Young, Older Americans Now Widest on Record

Posted by on in , , , , , , , ,

Print Friendly Version of this pagePrint Get a PDF version of this webpagePDF

From Center for American Progress:

According to new data recently released by the Census Bureau and the Pew Research Center, households headed by someone 65 or older had an average total net worth 47 times greater than a home headed by a person 35 or younger.

…

The wealth gap between the younger and older Americans is double what is was in 2005 and five times greater than the 10-to-1 gap documented 25 years ago after adjusting for the another troubling economic factor—inflation.

Today’s gap is the highest disparity between generations ever recorded.

Fry also said there are more minority households among the nation’s younger generations than there was a quarter-century ago, and those minority populations tend to be significantly less wealthy than white households in the U.S.

(2)