Americans 75 and older are now the nation’s wealthiest, Fed survey finds — SkimNews
Get the Finance newsletter
Daily finance — markets, central banks, M&A, the prints that move money. Free.
- Americans aged 75 and older are now the nation's wealthiest age group, with median net worth jumping to nearly $505,000 from just over $367,000 in 2022, overtaking the previously richest cohort of families aged 65 to 74.
- The top 10% of families saw median net worth soar 31% to $3.6 million from 2022 to 2025, while families headed by someone 35 or younger saw median net worth drop 23% to $33,000 over the same period.
- Median family incomes rose about 7% from 2021 to 2024 to roughly $82,000, with the middle fifth of families seeing the largest income gain and the top fifth reporting lower incomes, which the Fed attributed to volatile business income.
- Nearly 20% of U.S. families reported being late on a loan payment in the previous year, up sharply from 12.2% in 2022, while 8.6% now dedicate 40% or more of their income to debt payments — the highest share in at least 12 years.
- Average wealth for the 75-and-older cohort rose 10% to $1.96 million, with the gap between average and median ($1.96M vs. $505K) underscoring that wealthier Americans within the group pulled the mean sharply higher.
Why it matters: The survey captures a widening generational and class split: the 75+ cohort's median wealth climbed to nearly $505,000 while families under 35 saw a 23% drop to $33,000, and one in five U.S. households is now behind on loan payments — the highest debt-distress level in over a decade. Older asset holders are reaping the gains from stocks and housing, while younger and lower-income families bear the cost of inflation and elevated rates.
Ask SkimNews
