How retirees are driving the US economy more than ever
Americans 70 and older now control an outsized share of the nation’s wealth, equities and housing assets, a shift driven by demographics, rising corporate profits and decades of soaring home and stock values, The Wall Street Journal writes. Federal Reserve data shows older households have steadily increased their share of net worth and market holdings, even as wealth has lagged for younger groups. Many retirees are also financially and physically healthier than prior generations: Most own their homes, often with little debt,...
