NBER Study: Dramatic Wealth Increase for Americans 75+ While Other Age Groups Decline 1983-2022
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wslh
Baker's choice. Dense with flavour, light on filler.
Summary
This NBER working paper by Edward N. Wolff analyzes the dramatic shift in age-wealth profiles in the U.S. from 1983 to 2022, documenting a seismic rise in household wealth for Americans aged 75 and over, while all other age groups experienced relative declines in wealth holdings. The research uses Survey of Consumer Finances data to examine this wealth redistribution across generations, with particular focus on the youngest age group.
Key quotes
· 4 pulledThere has been a seismic shift in age-wealth profiles in the U.S. over years 1983 to 2022.
The most notable is the sharp rise in the relative household wealth of age group 75 and over.
Correspondingly, the relative wealth holdings of all other age groups dropped over these years.
Using the Survey of Consumer Finances, the paper focuses on the youngest age group.
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