Which statement best characterizes the relationship between age and wealth in the U.S.?
A) The elderly are among the wealthiest and poorest in our nation.
B) Overall, the elderly are among the poorest in our nation.
C) There is no association between age and wealth; therefore older Americans tend to be similar to the other age groups in the nation.
D) The elderly are as wealthy as people in their twenties.
E) The elderly are as wealthy as people in their thirties.

Question

Quizplus · Accepted Answer

The relationship between age and wealth in the U.S. is complex, but overall, the elderly are among the wealthiest and poorest in our nation. This is because some older Americans have had time to accumulate significant wealth over their lifetimes, while others have struggled to save due to factors such as lack of access to retirement benefits or healthcare expenses. Additionally, younger Americans may have more debt and lower earnings, but they also have more time to accumulate wealth over their lifetimes. The relationship between age and wealth in the US is complex, and while some elderly Americans are among the wealthiest, others are among the poorest. Studies have shown that wealth tends to accumulate with age, but also that many older Americans experience poverty due to factors such as limited retirement savings, low Social Security benefits, and high healthcare costs. Therefore, choice A is the most accurate and comprehensive statement.

Which Statement Best Characterizes the Relationship Between Age and Wealth