Older People are higher off than ever

Wednesday’s Republican presidential debate confirmed that the problem of Social Safety reform just isn’t going away. However lacking from the dialogue is a few essential context: The nice life for older individuals has by no means been higher. Newly launched Federal Reserve information reveals that the monetary well-being of seniors is the very best in U.S. historical past. Non-public markets and particular person initiative, not Social Safety, have been the driving forces behind the rising incomes and wealth of the aged.

We used Federal Reserve information To analyze four decades of revenue development. We discovered that the inflation-adjusted revenue of the median family headed by somebody age 65 or older rose 94% from 1982 to 2021. The rise was almost 3 times the 35% improve amongst youthful households.