4 ms·

This 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.

by yuliyp 5y ago

This 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?).

dogma1138 5y ago
Millennials are turning 40 this year.
- cronix 5y ago
  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. https://en.wikipedia.org/wiki/Millennials https://en.wikipedia.org/wiki/Millennials
triceratops 5y ago
> people just starting their adult lives "Millennials" were born between 1984 and 1991. A good portion of them are well into adulthood.
content_sesh 5y ago
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/distribute/table/#quarter:119;series:Net%20worth;demographic:age;population:all;units:shares https://www.federalreserve.gov/releases/z1/dataviz/dfa/distr...
- pmcjones 5y ago
  Is that normalized by the number of people under 40 in 1989 versus the number of people under 40 in 2021? There are a lot of baby boomers (first group).
  - AnimalMuppet 5y ago
    More: Is it normalized by change in life expectancy? If you were under 40 in 1989, what was the probability that your parents had died and left you the money? What is the probability in 2021?

by yuliyp 5y ago

dogma1138 5y ago

Millennials are turning 40 this year.

cronix 5y ago
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. https://en.wikipedia.org/wiki/Millennials https://en.wikipedia.org/wiki/Millennials

triceratops 5y ago

> people just starting their adult lives "Millennials" were born between 1984 and 1991. A good portion of them are well into adulthood.

content_sesh 5y ago

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/distribute/table/#quarter:119;series:Net%20worth;demographic:age;population:all;units:shares https://www.federalreserve.gov/releases/z1/dataviz/dfa/distr...

pmcjones 5y ago
Is that normalized by the number of people under 40 in 1989 versus the number of people under 40 in 2021? There are a lot of baby boomers (first group).
- AnimalMuppet 5y ago
  More: Is it normalized by change in life expectancy? If you were under 40 in 1989, what was the probability that your parents had died and left you the money? What is the probability in 2021?