According to a new research by the Pew Research Center using the Census Bureau data published by The Dallas Morning News on November 7, 2011, the wealth gap between old (a person of age 65 and older) and young (a person of age under 35) is the widest ever, 47-to-1.
* 65 and More Category: Median Net Worth is $170,494. That is 42% more than in 1984, when the Census Bureau started measuring wealth broken down by age. The percentage of households with no net worth is 8%, largely unchanged as in 1984.
* Under 35: Median Net Worth is $3,662, down by 68% from the 1984 figure. The percentage of households with no net worth is 37%, nearly double the share in 1984.
Household wealth, or Net Worth includes the value of a person's home, possessions and savings accumulated over the years, including stocks, bank accounts, real estate, cars, boats or other property MINUS any debt such as mortgages, credit cards and others.
According to a CBO report issued in October 2011, the income for the top 1% of the U.S. population by income grew a hopping 275 percent between 1979 and 2007, while only 18 percent for the bottom 20%.
Federal Reserve on December 9, 2013 reported nation's net worth to be all time high during July to September (2013) quarter, and pegged the value at $77.3 trillion. Nation's net worth has been gradually rising since bottoming out in 2008 at $57.2 trillion.
* 65 and More Category: Median Net Worth is $170,494. That is 42% more than in 1984, when the Census Bureau started measuring wealth broken down by age. The percentage of households with no net worth is 8%, largely unchanged as in 1984.
* Under 35: Median Net Worth is $3,662, down by 68% from the 1984 figure. The percentage of households with no net worth is 37%, nearly double the share in 1984.
Household wealth, or Net Worth includes the value of a person's home, possessions and savings accumulated over the years, including stocks, bank accounts, real estate, cars, boats or other property MINUS any debt such as mortgages, credit cards and others.
According to a CBO report issued in October 2011, the income for the top 1% of the U.S. population by income grew a hopping 275 percent between 1979 and 2007, while only 18 percent for the bottom 20%.
Federal Reserve on December 9, 2013 reported nation's net worth to be all time high during July to September (2013) quarter, and pegged the value at $77.3 trillion. Nation's net worth has been gradually rising since bottoming out in 2008 at $57.2 trillion.
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