Over 65? Congratulations, You Own the Economy – WSJ
Demographics, rising profits and soaring asset values have together wrought a quiet transformation in the American economy. Much of it is now in the hands of the elderly.?
As of the third quarter of last year, people 70 and over controlled roughly 39% of all equities and mutual funds owned by households, compared with 22% in 2007, according to Federal Reserve data. Their share of net worth—assets minus debts—was 32%, up from 20% two decades earlier.