Americans 75 and older are wealthiest age group, Fed survey finds
The median net worth of the richest one-tenth of American families soared 31 per cent to $3.6 million from 2022 to 2025, the survey found.
The Federal Reserve's Survey of Consumer Finances has revealed that families led by individuals aged 75 or older are now the wealthiest demographic in the United States, according to a report released on Friday. This wealth accumulation is largely attributed to consistent gains in the stock market since the last survey in 2022. The median net worth of the wealthiest 10% of American families has increased by 31% to $3.6 million between 2022 and 2025.
The median, representing the midpoint between the richest and poorest families, serves as the benchmark for this significant rise.
While the overall survey observed robust gains in income, even after accounting for inflation, which slightly diminished income inequality, a concerning trend emerged. The proportion of Americans grappling with high debt payments and falling behind on their obligations rose, indicating the detrimental impact of sharply increased inflation on lower-income families.
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