Young Families Lost Wealth While Older Americans Got Richer Over the Past Years, Federal Report Finds

Source: International Business Times

A new Federal Reserve report, released Friday, shows that median net worth for families headed by someone 75 or older jumped 37% to $504,900. Riccardo Milani/Hans Lucas/AFP via Getty Images The American Dream may be aging out of reach for younger generations. While Americans over 75 have accumulated significantly more wealth over the past three years, families headed by adults under 35 have seen their fortunes shrink, according to new data.