This Week in the Mercury
Monday, November 7, 2011
$$$ / Occupy Another Way to Look at the Wealth Gap: Young People vs. Old People
Posted by Eli Sanders on Mon, Nov 7, 2011 at 9:58 AM
Obviously, older Americans are going to have more money than younger Americans. That's just how life generally goes—you start with nothing and accumulate personal wealth as you age. Still, the wealth disparity between older Americans and younger Americans is not supposed to be this wide:
The typical U.S. household headed by a person age 65 or older has a net worth 47 times greater than a household headed by someone under 35, according to an analysis of census data released Monday.While people typically accumulate assets as they age, this wealth gap is now more than double what it was in 2005 and nearly five times the 10-to-1 disparity a quarter-century ago, after adjusting for inflation.
The analysis reflects the impact of the economic downturn, which has hit young adults particularly hard.
Occupy mom and dad's! Or grandma and grandpa's! If you're not already...
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