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Bolstered by steady gains in the stock market, families headed by someone aged 75 or older are now America’s wealthiest, while the youngest families saw their wealth decline in the past three years, a government report said. The finding from the Federal Reserve’s Survey of Consumer Finances underscores how robust stock market gains have made wealthier American families even richer since the survey, conducted every three years, was last completed in 2022. For the oldest families aged 75 and over, median net worth jumped to nearly $505,000, up from just over $367,000 in 2022. Three years ago, families aged 65 to 74 were the richest. All the figures are adjusted for inflation. Average wealth for the oldest age group rose 10% to $1.96 million.