None of that is germane to the point though. The point was wealth is an asset that a person accumulates through their life and we should expect that younger peo

None of that is germane to the point though. The point was wealth is an asset that a person accumulates through their life and we should expect that younger people on the whole have less wealth than older people on the whole by the simple fact that they haven't had enough time to accumulate the same levels of wealth. What we should be looking for is information about how each quantile in a given cohort is doing compared to their older counterparts at the same point in their lives. It's not enough to know that people under 40 own 10% of the wealth, you have to know how much of the wealth people under 40 owned in 2000, and 1980, and 1960, and 1940. And how that compares to their portion of the population. For example, we might expect to see a sort of "wealth bubble" around the baby boomer generation, which shows them having an outsized share of wealth at each stage relative to their older and younger cohorts. And we might expect that bubble to be correlated to the size of the baby boomer generation as a population.