In America, older generations have seen a surge of wealth since the mid-1980’s, yet our younger generation has seen a decline as it is harder to save, harder to pay back debt, and harder to get their foot in the door. Back in 1984, households headed by persons older than 64 were worth 10 times that of a household headed by persons older than 35 years of age, yet now that gap has seen an increase to 47 times. With an average net worth of $3662 in 2009, households of 35 and younger has witnessed a 68% decrease to their wealth while older Americans have seen the opposite- a 42% increase as opposed to their 1984 counter-parts. These statistics could be due to a number of reasons, including:

1. Many young Americans are starting their lives later

2. Many Americans are now attending post-secondary school

3. The housing market

4. Financial security and pensions after retirement are no long guaranteed; therefore older generations hold onto their jobs, making it harder for youngsters to even get a summer job.

While Grandpa can now pay for retirement, little Joe is forced to struggle with debt, loans, and an expensive white picket fence. Question is, how will the government compensate this ever-growing gap and what effects will it have on our economy?

Reference Article: http://money.cnn.com/2011/11/07/news/economy/wealth_gap_age/index.htm?iid=Popular