Yeah. Those who 1) could afford to buy assets a generation ago and 2) could afford to hold them for a generation, those people hold most of the nation's wealth.
Why? Because 1) they were starting ahead of everyone else. And 2) because long-term investing (done reasonably wisely) gives higher returns than short-term investing. So if you started out with more assets than everyone else, and got higher returns for a generation, of course you're far ahead of everyone else!
Why? Because 1) they were starting ahead of everyone else. And 2) because long-term investing (done reasonably wisely) gives higher returns than short-term investing. So if you started out with more assets than everyone else, and got higher returns for a generation, of course you're far ahead of everyone else!