While the US stock market has recovered long ago from the 2008 financial crisis those Americans 50-64 nearing retirement have yet to see their situation improve.
|Indeed, a Congressional Budget Office report just released shows that US median family wealth for those between 50-64 has gone down. In 2007 it was around $250,000. By 2010 this had declined to about $200,000. By 2013, instead of wealth increasing, the decline continued to around $150,000. In merely six years, the median family income of the age group dropped by 40 percent. Americans 65 and older saw a smaller drop of around 10 percent.|