7/29/2015 – The growing wealth gap that nobody is talking about (The Washington Post)

Jul 29, 2015 Comments Off by

If you’re over 62, your odds of having at least $1 million in net wealth (your total assets minus your total debt) are relatively achievable — about 1 in 7. But if you are under 40, your odds are low: 1 in 55.In the last 25 years, the odds that an old person is a millionaire have improved slightly. But for young people, they have gotten much worse.These figures come from a new paper by economists at the St. Louis Fed’s Center for Household Financial Stability, which shows evidence of a growing wealth gap that few people are talking about — the gap between the young and the old.

Read the full article in The Washington Post.

 

Financial Landing 2015

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