Periodic Essay

The Demographics of Wealth - How Age, Education and Race Separate Thrivers from Strugglers in Today's Economy. Essay No. 3: Age, Birth Year and Wealth

Abstract: Although there may be downsides to old age, those 62 and older can take heart in knowing that the odds are in favor of their being wealthier than younger people. And the gap has widened considerably over the past quarter-century?in favor of old people. That said, being old isn?t what it used to be. Baby boomers, who are now retiring in droves, are likely to be less well-off than their ?old? counterparts in the two previous generations. And it looks as if members of the next two generations ? Generation X and Generation Y (the millennials) ? might also end up less wealthy than the generation before them.

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Bibliographic Information

Provider: Federal Reserve Bank of St. Louis

Part of Series: Demographics of Wealth

Publication Date: 2016

Issue: 3

Pages: 1-28