Sluggish Growth in Wealth for Millennials
It is obvious to most Millennials that we simply do not have as much wealth as our parent and grandparent generations did. We hear stories straight from their mouths about purchasing a house and a car on a single income. We know the baby-boomer mothers stayed at home to watch us while the father went to work in a lot of cases. And yet they could afford what we could only dream to afford these days, while working on two jobs. Wealth levels are simply not the same. And as displayed so cleanly by Visual Capitalist , we can see the difference cleanly. In 1989, when Baby Boomers were around the same age as today's Millennials, they held 21.3% of U.S. wealth, compared with Millennials holding a mere 4.8% by the end of 2020, a four-fold difference! It is no wonder we feel like we're drowning just to make ends meet. Our generation simply does not have the built up wealth that was already available to our parents' or grandparents' generation by their 20s and 30s. We have st...