Quote from: Tytanowy Janusz on Today at 02:37:10 PM

What part of this wealth is locked in illiquid assets - big house in a quiet, peaceful neighbourhood? All this data shows "net worth" (houses, flats, cars) not money that someone is willing to gamble on highly volatile asset.

yep, agreed

a 15yo is ofcourse not going to have anything..
never working = no savings at all.. no car. not even started a mortgage let alone able to pay it off

someone thats ~35 is still paying off their mortgage so even if they live in a $300k house. they dont own all $300k of it
also the 35yo has only worked for 15 years so has small amount of savings and small amount of pension invested.

as soon as someone is ~65. they are at full allotment of pension(havnt started spending it yet) would have paid off the mortgage so would now be at full asset allotment of that. and worked 45 years to have put alot of savings..
however. as they get older beyond 65 their wealth decreases. because money is going out but no money is coming in.
reaching 70. their savings and pension start to decline more noticeably as they start to spend it.
less mobility means house goes into disrepair and that value shrinks too