Does America’s Aging Population Impact The Wealth Gap?
By: CultureBanx Team
The 21st-century American household is significantly different from what it was a few decades ago, from 4.6 persons to 2.65 persons. An aging U.S. population has also significantly influenced the household composition shift, with the average African American in their mid-30s. Between 2010 and 2017, the share of adults ages 45 to 64 declined from 35% to 33%, while the share ages 65 and older increased from 17% to 20%. This change in the share of U.S. households by income and age can have several implications for the future of the African American community.