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