Although it is true that Baby Boomers control 70% of the wealth in America, it might be important to note that when baby boomers were young adults in the 1960s and 1970s people then who were over 50 also likely controlled 70% of the wealth then too. Also, the people who tend to pass on with wealth now are mostly somewhere between 70 and 100+ years old, so the next generation (usually their kids or brothers and sisters and neices and nephews tend to be next in line, who also tend to be over 40 or 50 themselves.)
People spend the first 40 or 50 years of their lives accumulating wealth and then sometimes they inherit a house or other wealth then. And so on and so on. This is just the way it has worked for hundreds of years here in the U.S. and appears to continue to work on into the future.
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