4 ms·
Well, that's where the money is. The 55 and older demographic holds 70% of the wealth in America[1]. The 70 and older demographic holds 31% (almost 1/3) of th
by ryandrake 3mo ago
Well, that's where the money is.
The 55 and older demographic holds 70% of the wealth in America[1].
The 70 and older demographic holds 31% (almost 1/3) of the wealth in America[2].
1: https://finance.yahoo.com/news/older-americans-control-70-wealth-120000155.html https://finance.yahoo.com/news/older-americans-control-70-we...
2: https://www.apolloacademy.com/31-percent-of-wealth-owned-by-people-over-70/ https://www.apolloacademy.com/31-percent-of-wealth-owned-by-...
- 10000truths 3mo agoI got curious what the wealth distribution looks like when normalized to account for retirement account growth. The historical average of the S&P 500's inflation-adjusted rate of return is ~7%. According to [0], the actual YoY increase of net worth between age bands is less than that: Median household net worth by age 35-44: $135600 45-54: $247200 (+6.19%) 55-64: $364500 (+3.96%) 65-74: $409900 (+1.18%) Average household net worth by age 35-44: $549600 45-54: $975800 (+5.91%) 55-64: $1570000 (+4.87%) 65-74: $1790000 (+1.32%) [0] https://www.fidelity.com/learning-center/smart-money/average-net-worth-by-age https://www.fidelity.com/learning-center/smart-money/average...