11–20 of 22 posts
There are far more Boomers than Millenials. Of course Boomers are going to have a larger "share" of U.S. wealth (compounded by the fact that Boomers are at the ends of their careers, in their highest-earning phase). Here's an article [0] that looks at wealth per capita by age (and inflation adjusted), rather than by share . It shows that Gen X is doing much better than the Boomers (which matches my experience--my sib…
This looks pretty natural, and inheritance has a lot to do with it. Boomers are still alive, and therefore controlling their wealth. When they pass, any inheritance would usually go to their children, who would be generation X(or millennials to a lesser degree), and so on and so forth.
When you compare the % share of wealth across generations when they were the same age, millennials are on track to own significantly less: https://twitter.com/graykimbrough/status/1198703644721524744
There are far more Boomers than Millenials. Of course Boomers are going to have a larger "share" of U.S. wealth (compounded by the fact that Boomers are at the ends of their careers, in their highest-earning phase). Here's an article [0] that looks at wealth per capita by age (and inflation adjusted), rather than by share . It shows that Gen X is doing much better than the Boomers (which matches my experience--my sib…
Of course these are just my feelings and I don't have data to support it
There are far more Boomers than Millenials. Of course Boomers are going to have a larger "share" of U.S. wealth (compounded by the fact that Boomers are at the ends of their careers, in their highest-earning phase). Here's an article [0] that looks at wealth per capita by age (and inflation adjusted), rather than by share . It shows that Gen X is doing much better than the Boomers (which matches my experience--my sib…
There are far more Boomers than Millenials. Of course Boomers are going to have a larger "share" of U.S. wealth (compounded by the fact that Boomers are at the ends of their careers, in their highest-earning phase). Here's an article [0] that looks at wealth per capita by age (and inflation adjusted), rather than by share . It shows that Gen X is doing much better than the Boomers (which matches my experience--my sib…
Furthermore it is really hard to adjust for inflation over long period of times (especially when productivity has increased as much as it has in the last one hundred years).
EDIT: It looks like the same author of the above post also wrote about the median trend in the following post. However it looks like the original with the data this post is based on doesn't exist anymore...
https://economistwritingeveryday.com/2020/09/30/ok-millennia....
This feels really obvious to me. Of course people just starting their adult lives wouldn't have had a chance to build up much savings / acquired an inheritance. Naturally they'll buy a house and start building equity in it before investing a huge amount into the stock market. As they get older, retirement accounts and home equity will grow, leading to older people having more wealth. An intereting analysis would be t…
In 1989, those under 40 had 13.1% of total household wealth. In Q1 2021 that number was 6.0%. It seems 2009-2011 saw the lowest levels where it didn't crack 5% https://www.federalreserve.gov/releases/z1/dataviz/dfa/distr...
There are far more Boomers than Millenials. Of course Boomers are going to have a larger "share" of U.S. wealth (compounded by the fact that Boomers are at the ends of their careers, in their highest-earning phase). Here's an article [0] that looks at wealth per capita by age (and inflation adjusted), rather than by share . It shows that Gen X is doing much better than the Boomers (which matches my experience--my sib…
Generation X (born from 1965 to 1980) came of age during the era of wage stagnation and growing inequality ushered in by the 1970s and ’80s. When the typical Gen Xer reached 35 in 2008, his or her share of the nation’s wealth was just 9 percent, less than half that of boomers at a comparable point in life.
Millennials haven’t hit the 35 mark yet — that won’t happen until about 2023 — but their financial situation is relatively dire. They own just 3.2 percent of the nation’s wealth. To catch up to Gen Xers, they’d need to triple their wealth in just four years. To reach boomers, their net worth would need a sevenfold jump.
https://www.washingtonpost.com/business/2019/12/03/precariou...
https://www.attainablehome.com/wp-content/uploads/2019/12/Ba...
There are far more Boomers than Millenials. Of course Boomers are going to have a larger "share" of U.S. wealth (compounded by the fact that Boomers are at the ends of their careers, in their highest-earning phase). Here's an article [0] that looks at wealth per capita by age (and inflation adjusted), rather than by share . It shows that Gen X is doing much better than the Boomers (which matches my experience--my sib…
There are far more Boomers than Millenials. Of course Boomers are going to have a larger "share" of U.S. wealth (compounded by the fact that Boomers are at the ends of their careers, in their highest-earning phase). Here's an article [0] that looks at wealth per capita by age (and inflation adjusted), rather than by share . It shows that Gen X is doing much better than the Boomers (which matches my experience--my sib…
I feel like inflation does a really bad job at adjusting for everyone's major expense: housing. It feels like gaslighting every time someone tries to tell me how fine millennials are when we objectively don't have the same opportunities for easy effortless well paying employment that makes buying a house a very achievable goal relatively early in life. Of course these are just my feelings and I don't have data to sup…
I'm not sure where you got your picture of the 1970s and 1980s. "Easy effortless well paying employment" is not how most of my cohort would have described our jobs, particularly the "well paying" part. I'm not sure what relatively early in life is: before 30? before 35?
This reads as machine-translated, if not machine-generated. Individual paragraphs contain errors and awkwardness that looks like bad translation, while the overall structure seems meandering, like a not-great machine-generated piece. What's up with this source? (the actual content matches what I've read elsewhere for years now, re: declining same-age proportion of national wealth with each post-Boomer generation, but…
