Wealth gap

Posted: December 2, 2011

Largest wealth gap in history between young and old

By Simone McIntosh, Talon staff writer

This year marks the largest wealth gap in history between younger and older Americans, according to an analysis of census data by the Pew Research Center.

A person who is under the age of 35 has a net worth 47 times less than someone who is 65 or older. More individuals under the age of 35 are seeking college degrees or some form of higher education.

This causes them to sink into a web of debt that they can only hope to recover from when the job market permits. The average net worth comparison between age groups is $170,494 to $3,662.

You may also like…

Film review: Oppenheimer

Nolan combines technical brilliance with riveting storytelling On July 21, Christopher Nolan released his twelfth feature film, Oppenheimer, which may prove to be one of the greatest feats in cinema over the last decade. The film follows the life of the "Father of the...

Future of the ice arena decided

Arena's fate doomed by increasing costs, declining use In March 2023, the Minnehaha Academy Board of Trustees made the official decision to remove the ice arena located at the lower school campus. While the rink has had many renovations over the years, it has been a...

Elaine Ekstedt: A half-century at MA

Tracing her path to a golden year Fifty years ago, the average gas price was 39 cents per gallon. Fifty years ago, The Godfather won Best Picture at the Oscars. Fifty years ago, the Watergate trial was underway. Fifty years ago, the U.S. ended its involvement in the...

Student businesses: an alternate option

Summer is just around the corner and so are work hours. Many students dread getting a job, but find the idea of starting their own business attractive. In a study conducted by CNBC (a news network), it was reported that 60% of teens wanted to start their own business....

Destinations around the neighborhood

Some people prefer lemonade. Some people enjoy horchata. Others caramel lattes. And the occasional person who just drinks water. With about a third of the MA community restricted to transportation by foot or by pedal, the locations accessible from school are limited....