Millennials Control Just 4.6 Percent of US Wealth
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Millennials Control Just 4.6 Percent of US Wealth
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Re: Millennials Control Just 4.6 Percent of US Wealth
#2This 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 to look at what this looked like for different generations adjusting for age (what did savings for baby boomers look like when they were in their 30s?).
Re: Millennials Control Just 4.6 Percent of US Wealth
#3This 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 the presentation, oof)
Re: Millennials Control Just 4.6 Percent of US Wealth
#4This 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.
Re: Millennials Control Just 4.6 Percent of US Wealth
#5This 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…
Millennials are turning 40 this year.
Re: Millennials Control Just 4.6 Percent of US Wealth
#6This 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…
> people just starting their adult lives
"Millennials" were born between 1984 and 1991. A good portion of them are well into adulthood.
Re: Millennials Control Just 4.6 Percent of US Wealth
#7This 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
Re: Millennials Control Just 4.6 Percent of US Wealth
#8This 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…
Millennials are turning 40 this year.
The first ones are, if you go by the popular definition of those born between 1981 and 1996. Others are turning 25 and most somewhere in between. There's a 15 year difference between the start and end of the "generation."
> Millennials, also known as Generation Y or Gen Y, are the demographic cohort following Generation X and preceding Generation Z. Researchers and popular media use the early 1980s as starting birth years and the mid-1990s to early 2000s as ending birth years, with the generation typically being defined as people born from 1981 to 1996.
Re: Millennials Control Just 4.6 Percent of US Wealth
#9This 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...
Re: Millennials Control Just 4.6 Percent of US Wealth
#10There 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 siblings and I far out-earn our parents), and that Millenials are on track to do the same but just aren't as far along the curve yet.
[0] https://economistwritingeveryday.com/2021/09/01/who-is-the-w...