Wealth Inequality Essay

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Have you ever wondered about the wealth gap between the rich and the poor, and what it has to do with you? I have and I can honestly say with my work experience that I would fit somewhere safely in between the rich and the poor because I am not able to spend money like it is going out of style but I can spend it to be able to survive, to provide a roof over my head, clothes on my back and food in my stomach. Although I am a part of what is now called Generation X and after all the generations before, Generation X has not benefited at all from any part of the wealth gap. I am not rich and I am not poor but not everyone can say the same. As the cost of living goes up our generation falls to the feet of the rich. Wealth inequality can be described as the unequal distribution of assets within a population. The United States exhibits wider disparities of …show more content…

These factor into your net worth whether you are just an individual or family’s wealth. As I do more and more research on this subject I find that the biggest gap doesn’t come from gender or race it comes from the generation gap. The gap between the old and the young seems to have the most effect on the gap because it is claimed that the older generation has less debt and more investments. The young hasn’t worked as long as the old so they have not built up a cushion, it is called, in order to fall back on when there is a financial shock. If young people want to increase their chances of being wealthy, one strategy is to emulate the behavior of older people: keeping an emergency fund, paying down debt, avoiding high-cost credit, and putting money into higher-returning investments (Swanson, 2015). But let’s be honest it is going to be very hard to do this especially for a family living paycheck to paycheck, so how will we ever

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