For an article in a magazine called “The Economist” you would think they’d know that wealth is net worth based on capital assets and cash reserves, not your inc

For an article in a magazine called “The Economist” you would think they’d know that wealth is net worth based on capital assets and cash reserves, not your income. The fact that hourly wages are rising doesn’t matter because costs are also up in equal or higher proportion due to inflation. The premise of this article is basically untrue on its face and more so when you account for the housing affordability crisis. That said, this article is probably still true for some kids. I put together a custodial IRA for my teenager funded with a dollar-for-dollar match to her gross earnings while she’s underage and she’s a prolific saver too. She’ll graduate high school with a higher net worth than the American median, but that’s mostly because of the typical American debt load more so than the raw amount. Since we are directly paying for her college we hope that this will guarantee her a decent retirement some day, which so many of her generation will likely never have. Also for commenters saying Gen Z is the kids of Gen X, that’s probably true but many of us are older millennials (xennials) too. I am not quite 40 yet and my kiddo turns 18 this year. The oldest millennials are 43 right now.