The 55.8 million Americans over 65, about 17% of the population, hold half of America's wealth — $96.4 trillion, according to the Federal Reserve.
wealth transfers were less important in accounting for current net worth in 2007 than in 1989," they concluded. In other words, more people were building wealth through means other than an inheritance.
e the total assets held by boomers is a lot, most of that is held by a small number of people.
The median net worth of people between the ages of 65 and 74 was $266,400 as of 2019, according to Federal Reserve data — not much higher than the average net worth for other age demographics.
Death, they say, is the great equalizer. But even death can't offset wealth inequality. Most of the money held by America's older generations will get eaten up by long-term care and end-of-life costs, and what remains will mostly end up in the hands of other already-wealthy people. Instead of an inheritance boom, the reality is that most Americans will not receive a vast fortune to ameliorate their grief.
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