Millennials Are Running Out of Time to Build Wealth – The oldest members of the generation turn 40 this year. They’re only 80% as wealthy as their parents were at this age.

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Only 14% of 40-year-old millennials own stocks? That is….surprisingly low. Hi friends, quick edit here to hit a couple points: – 401ks count as owning stocks. Everyone whose company offers a 401k who has one red cent left after paying rent should be contributing *something*. I understand this is not plausible for everyone, but throwing $25 a month at your 401k will be more important than upgrading from an iPhone 7 to an identical iPhone 10. This is basic financial literacy. – Cryptocurrencies are *currencies*, not stocks. – Please stop trying to convince me that millennials have “figured out” Wall Street and know better. This is specifically about 40-year-old millennials, your conspiracy theories are annoying, and retail investing is at an all-time high.

NOOBEv14

I mean we will have a stratification in the millennials, those whose parents leave them something like a house or even an inheritance and those whose parents didn’t. Might be worse for zoomers or siblings of millennials only so many houses to go around.

detten17

I am in this age group and I was shocked to learn how far up the ladder my wife and I are on the wealth/income ladder (from the NYT). I think this is important: yuppies might feel like we’re “normal” but we don’t realize that we’re actually closer to the top percentiles than we would have thought. It’s not a good thing; it’s a sad thing.

1whiskeyneat

Well my folks bought their first home 4br .5 acre for 35k in the 70’s. Sold it for 125 in 80’s bought a home for 180 then that’s worth 400k now. They used their wedding money to downplay for the first house. If I was able to buy a house I could live in for 3x my salary I’d be as wealthy as they were/are

Jerkofalljerks

Wow and only 52% still live at home with their parents. Never mind that was 2019 it’s now 70% living at home in 2021. All truthfulness I’m kinda surprised its 80% as wealthy seems a bit high looking at every person on reddit well poverty finance and other subs.

DonDickerson