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Originally Posted by Bill14564
Not exactly.
Social Security doesn't keep up with inflation. It may have increased but those relying on it lost ground.
Home value is irrelevant unless you own a second home that you are willing to sell. Any increase in your primary home is a wash since selling for a profit would require purchasing a home that has also increased in value.
The market has been good for the last 12 months or so but that has only been sufficient to recover from the losses in the 18 months before that. By leaving my investments and 401K alone, it has finally climbed back to where it was at the end of 2021. If any seniors had found it necessary to make withdrawals during those 18 months when the market was down then their accounts have not regained the lost value.
SS has lost ground, increases in home prices are a wash, and investments that have taken withdrawals have not recovered. The last 12 months have been better than the previous 18 but the last few years have not been good to seniors at all.
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There is plenty of economic data that shows how much the average and median net worth of Boomers has gone up, and it's a lot. You left out commentary on interest on savings. Many folks were not entirely invested in the market or other at-risk securities. There is a significant income stream now available to may who like to keep at least some assets in cash deposits, insured by the FDIC. The stock market is at an all-time high. I also disagree about the value of homes. It's not a complete wash, it's far better to have an increase in home equity rather than a decrease...when the value of my home goes down 20%, I don't say it's a wash. It's real equity that is part of your net worth. Some or all of those appreciated funds can be accessed by downsizing, or selling. And I know some prices have gone up more than the rate of inflation (e.g. homeowner's and car insurance), but 17.8% increase in Social Security is roughly equal to the stated inflation by the Bureau of Labor Statistics for this period. There are so many more millionaires in America now than before the pandemic, and lots of data to back up what I am stating here.
I am specifically referring to Boomers, though....it's a different story for folks half our age.