Older Americans are gaining wealth

Those 75 and older have become the wealthiest age group in the United States, while younger families have lost ground, according to a Federal Reserve report.

Strong stock market performance helped older households grow their wealth between 2022 and 2025.

Notably, households headed by people aged 75 and older have emerged as the wealthiest in the US, according to the Federal Reserve.

According to the most recent survey, the median net worth of families headed by someone aged 75 or older climbed to nearly $505,000 in 2025, up from just over $367,000 three years earlier.

Families aged 65 to 74 ranked first in 2022.

Net worth among households headed by people aged 75 and older rose 37%, making them the wealthiest age group in the US. Their median net worth reached about $505,000, up from $367,000 in 2022, while mean net worth climbed 10% to $1.96 million. By contrast, wealth among families under 35 declined 23% to $33,000.

The findings highlight the growing gap between older Americans, who have had more time to build assets, and younger households.

The wealthiest 10% of American families saw median net worth rise 31% to $3.6 million during the period.

Family incomes also improved. Median income rose about 7% to roughly $82,000 between 2021 and 2024, after adjusting for inflation.

According to an economist who spoke with the Wall Street Journal, many older Americans have accumulated wealth as homes and stocks purchased years ago have surged in value. The Fed measures net wealth by subtracting liabilities, including mortgages and debt, from assets such as stocks and home equity.

However, many households continue to struggle with debt. Nearly 20% of American families reported missing a loan payment in 2025, up from 12.2% in 2022.

Additionally, the share of families spending at least 40% of their income on debt payments reached 8.6%, the highest level in at least 12 years, reflecting mounting financial pressure despite broader economic gains.