Americans Over 70 Hold More Than 30% of the Country’s Wealth
- Older Americans added $14 trillion in net worth since 2019
- Aging population and surge in home values drove the gains
Older baby boomers have accumulated more than $14 trillion in additional net worth since the end 2019.
Photographer: Murtaja Lateef/AFP/Getty ImagesThis article is for subscribers only.
Most don’t work anymore, but Americans age 70 and older have seen their share of collective wealth surge during the pandemic.
As a group, these older baby boomers have accumulated more than $14 trillion in additional net worth since the end 2019, based on Federal Reserve data. Their share of the country’s wealth has jumped to a record 30% last quarter, even though they account for 11% of the population.