Pay no attention to the concentrated 10% wealth at the top. Let us distract you by telling you the problem is your next door neighbor trying to pay off their mortgage instead.
https://www.statista.com/statistics/203961/wealth-distribution-for-the-us/
ah, 10% of people own 67% of all wealth in the US. 33 million people hold close to 70% of all US wealth, while 300 million share the other 30%.
While the bottom 50% of earners, collectively, hold 2.5% of all U.S. wealth. 176 million Americans, all attempting to survive on 2.5%.
fun stuff.
most of my neighbors are the top 10% and paid for their homes with seven figures in cash and from from inherited wealth.
I’m the top 20%. and paying my mortgage
We’re specifically talking about housing. So yes the most homes are owned by Boomers that use them as investments.
Needs to be rescaled by percent of population.
That uptick in the under 40 is the transfer of wealth from the 70+ as they die. That’s your light at the end of the tunnel. Until the housing bubble pops at least.
Does that actually happen anymore? There’ve been so many articles about nursing homes especially, geared up to take hundreds of thousands per year. Is there anything left to inherit, outside 1%?
I grew up relatively comfortable but never expected to inherit anything. I’m doing better at retirement savings than my Mom, but don’t see how that lasts through more than a couple years retirement period, much less many nursing home
I have a friend who just inherited $425,000. I will receive no inheritance myself though…
Pandemic #1 tried and failed. Maybe pandemic #2 will topple the inverted Eiffel Tower
If you look at the S&P500 (blue line) over the same period, this makes sense. A good percentage of older Americans have been contributing to 401Ks and other savings investments, and those investments have been doing well lately.
