Centre for Policy on Ageing



Wealth inequality among older Americans
Author(s)	James P Smith
Journal title	The Journals of Gerontology Series B: Psychological sciences and social sciences, vol 52B, special issue, May 1997
Pages	pp 74-81
Keywords	Over 70s ; Living patterns ; Wealth ; Poverty ; Social surveys ; United States of America.
Annotation	Using the AHEAD study (Asset and Health Dynamics Among the Oldest Old), this article examines the wealth distribution among American households with a member at least 70 years old. Household wealth is quite unevenly distributed among older American households. Those household in the top 10th percentile of the wealth distribution have 2,500 times as much wealth as those in the lowest 10th percentile. This sharp disparity relative to income distribution is the dominant reason why older minority ethnic households have accumulated so little wealth, compared to white households. Wealth varies by a factor of seven to one, when both spouses are in poor health, compared to when they say they are in excellent health. Finally AHEAD data on bequest intentions suggest a bifurcated bequest motive. Most older households plan to bequeath a modest financial inheritance, but about a quarter expect to leave inheritances worth $100,000 or more. (RH).
Accession Number	CPA-971125264 A
Classmark	BBK: K7: W7: W6: 3F: 7T
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...from the Ageinfo database published by Centre for Policy on Ageing.