Occupy Old People

Thanks to the "Occupy" movements there's been a lot of talk lately about the wealth disparity between the top 1% and the rest in the US.  Now comes some information about the growing wealth gap between the geezers and the greenhorns in our fair country:

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. More are pursuing college or advanced degrees, taking on debt as they wait for the job market to recover. Others are struggling to pay mortgage costs on homes now worth less than when they were bought in the housing boom.

 

2 thoughts on “Occupy Old People

  1. Yarddawg

    Tom Peters has asserted this for years. It’s almost laughable that the advertising industry spends a relatively much smaller amount of money on this segment compared to the money spent on “younger” consumers.

    Reply
  2. Jon Lowder

    Someone should have told people 40 years ago – if you want to follow the money, follow the boomers.  Then 15 years ago someone should have said – if you want to follow the money, follow the boomers AND their grandkids.

    Reply

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