Net worth and financial assets of age groups in 1984

Researchers have examined the economic status of the aged and other age groups using income data. However, wealth is also a very significant aspect of economic well-being. In a study using the 1984 Survey of Income and Program Participation, one of the most important findings is the substantial dispersion in amounts of wealth present in the wealth distribution as a whole, within the aged group, and within age and marital status subgroups of the aged. Although wealth is correlated with income, substantial dispersion is found in amounts of wealth within income and age groups. Many aged households have little or no wealth. The results of the study indicate that looking only at income does not capture a major portion of the effect of wealth on economic status. To gain a comprehensive picture of economic status, it is necessary to examine both income and wealth.