The old get wealthier and the young get poorer

"The old get wealthier as the young ger poorer. This is the latest data on household net worth for the last decade. Those 35 and younger saw their net worth crushed by 55 percent from 2005 to 2009. The data looks to show a big jump for older households but this is largely due to home equity. Removing home equity from the equation, we find that older households (those 65 and older) suddenly go from having their net worth going up to seeing it fall"