According to the Pew Research Center report cited in a NY Times article on Novermber 11, 20011, older adults are doing better economically than younger generations on every level surveyed – wealth, income, homeownership, home equity, employment and poverty.
People accumulate wealth as they grow older, so it is not surprising to find big age gaps on this measure. However, the current gap is by far the largest since the Census Bureau began collecting these data in 1984. Back then, the age-based wealth gap was 10:1. By 2009, it had ballooned to 47:1.
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