Question

explain why the percentage of people with $300,000 or more increases so substantially across the age groups.

Answer 1

The percentage of people with $300,000 or more increases so substantially across the age groups because older individuals have an edge when it comes to accumulating wealth.

What are the age groups?

Simply put, older folks have more money because:

1. They have worked for longer periods of time and are thus anticipated to earn higher incomes and hold higher positions.

2. They have had more time to save and invest their money.

Every age group has a greater ability to save money during their working years. Young individuals just starting out in their jobs are less likely to amass enough money to be worth that much.

More about the age group link is given below.

brainly.com/question/3369826

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