MarketWatch, Dec 5, 2019: This Depressing Chart Shows The Jaw-Dropping Wealth Gap Between Millennials And Boomers
When baby boomers (born between 1946 and 1964) hit a median age of 35 in 1990, they collectively owned 21% of the nation’s wealth.
The millennial generation will hit that 35 median age in four years and they are nowhere near owning that percentage.
In fact, this inter-generational wealth chart drawn by economist Gray Kimbrough using Federal Reserve data is a stark illustration of the yawning millennial wealth deficit.
As a whole, boomers have fared better financially than Gen Xers (born between 1965 and 1980) and millennials (born between 1981 and 1996) throughout every stage of their lives. Boomers currently boast more than half (57%) of the nation’s wealth, while Gen X owns just 16%, and millennials 3%.
