Americans 75 and older are wealthiest age group, Fed survey finds

According to a Federal Reserve report released on Friday in Washington, families headed by individuals aged 75 or older have become America's wealthiest age group. This financial standing was bolstered by steady gains in the stock market over the preceding three-year period.

In contrast to the gains experienced by the oldest demographic, the nation's youngest families saw their overall wealth decline over the same three-year period, highlighting a growing generational wealth gap captured by the federal survey data.