The retirement assets of older Americans surged to a new high of $3.5 trillion last year and, better yet for seniors, those between the ages of 65 and 74 saw the largest increase in wealth of any age group, according to a study by Hearts & Wallets.

The “2014 Portrait of U.S. Household Wealth: Market Sizing, Segmentation and Product Ownership” reported that the retirement income market – households “ages 65 and older that take income at 4 percent or more and are interested in ‘retirement income solutions’” – reached $4.7 trillion last year, or 11 percent of all U.S. household assets. This market is predicted to grow to 20 percent in 2020.

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