The Inequality of Financial Wealth Among Boomers

It is well known that wealth is much more unequally distributed than income in the United States. Recent studies have shown that both income and wealth have become more unequal in the past two decades. In this data digest by the AARP Public Policy Institute, two measures of inequality were used to examine the degree of wealth inequality among boomers (cohorts born between 1946 and 1964) over the period 1989-2001. The incidence of negative or zero net worth among boomers during that period was also examined. Results show that boomer wealth is more concentrated than it was in the late 1980s, with the top 1 percent holding a greater share of total net worth than the bottom 80 percent.

The report was written by John Gist and Ke Bin Wu. For further information, please contact John Gist at 202/434-3870. (8 pages)