US wealth gap between young and old is widest ever
Posted: Tue Nov 08, 2011 1:43 am
http://hosted.ap.org/dynamic/stories/U/ ... 7-09-30-12
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 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 47-to-1 gap in net worth between old and young is believed by demographers to be the highest ever, even predating government records.