For those curious about the impact that the financial crisis of ’07/’08 had on families’ net worth, here’s a quick chart showing the median net worth from 1989 to 2013 across several age groups (all figures are in 2013 dollars). The data comes from the Survey of Consumer Finances which is available to all at the official Fed website.
What is interesting here? Probably the fact that we are still in a recovery mode following the financial crisis and its accompanying toll on families’ saving and investment accounts. What’s more, only those over the age of 65 have amassed greater wealth today than in 1989 when adjusted for inflation. Every other age group has yet to surpass those prosperous times that were the late 80’s (or so it would seem).
If you are having trouble viewing this graph, I’ve created an alternate version that may work better here.
Net Worth ($000)