Older Americans have benefited from decades of rising home prices and stock markets. Many bought homes and investments years ago and watched their value grow.
CHARLOTTE, N.C. — If you’re over 65, you now control a bigger share of America’s wealth than any generation before you.Â
Older Americans have benefited from decades of rising home prices and stock markets. Many bought homes and investments years ago and watched their value grow.
Today, people 70 and older own about one-third of the nation’s net worth. They also control nearly 40% of household stocks and mutual funds.
Many retirees also have stable income from Social Security and Medicare and about 80% of people over 65 own their homes, often without a mortgage. That shift raises concerns for younger generations facing higher housing costs, more debt and less financial security.
Meanwhile, government spending on programs for seniors continues to grow, putting pressure on future budgets.
The bottom line: America’s economy is increasingly driven by older adults, and that generational shift is likely to shape spending, policy and the workforce for years to come.