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> Younger Americans (millennials and Gen Zers) owned $1.35 for every $1 of wealth owned by baby boomers at the same age. https://www.stlouisfed.org/community-d

• nyc_data_geek 1y ago
  >At the same age Boomers have had significantly longer and better sustained market conditions to grow their wealth.
• moate 1y ago
  Um, I'm going to go ahead and point out this, probably not super relevant data point "While trailing Gen Xers for the beginning of their adult lives, younger American households’ average wealth began to exceed that of Gen Xers at about age 30, reflecting historically high wealth levels following the COVID-19 pandemic." I have a feeling that average wealth adjustment falls very heavily on the home owners, which is only just above half of all the cohort. Had a similar thing happened to boomers in 89, almost 70% would have benefitted. I think it's also worth pointing out: The share of wealth held by boomers in 89 (why 89? Because they didn't have data before that. It's why the graphs start in a weird spot and why it's not a great study unless you're trying to pull out a "gotcha" stat) represented almost 20% of the total wealth in the country. "Millenials/GenZ" has a hold on only HALF that percentage. Doctors may hate your one weird statistic, but socio-demographists probably don't...
  • JumpCrisscross 1y ago
    > have a feeling that average wealth adjustment falls very heavily on the home owners, which is only just above half of all the cohort This is also true for other generations.