U.S. Generational Wealth Gap Widens as Share of Net Worth Held by Over-75s Rises
JH Kim
Summary
- The wealth gap between generations in the U.S. has widened, the data showed.
- The net worth of Americans age 75 and older has risen sharply relative to the average for all households since 1983.
- The net worth ratio for households under 35 has declined relative to the average for all households, showing that the gap in wealth holdings has widened over the long term.
Forecast Trend Report by Period
The wealth gap between generations in the U.S. has widened. The relative net worth of households age 75 and older has risen sharply since 1983, while the ratio of net worth held by households under 35 to the average household's assets has declined.
According to the Survey of Consumer Finances released on November 8, the net worth of households age 75 and older increased markedly relative to the average for all households compared with 1983.
By contrast, the share for households under 35 fell relative to the average for all households.
The findings show that the gap in relative wealth holdings between older and younger Americans has widened over a long period.
JH Kim
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