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That seems like an obvious observation? People accumulate wealth over a life time of work. It would be entirely expect that younger generations have less weal

by refurb 1y ago

That seems like an obvious observation? People accumulate wealth over a life time of work. It would be entirely expect that younger generations have less wealth than older generations.

ghushn3 1y ago
If that was true, you'd expect the younger professionals of today would have comparative amounts of wealth to the boomers when they were young professionals. It's absolutely not the case. Each generation is getting poorer and poorer as they hit the same benchmarks. This tracks with broad trends of wealth inequality increasing as well. So no, it's not just "they haven't accumulated yet", because it's not clear they will have the opportunity to do so.
- naveen99 1y ago
  Boomers had a lot more sibling and lot smaller inheritances coming to them. Kids these days will inherit a lot more and share a lot less with siblings.
  - adaml_623 1y ago
    Unless Boomers live long enough to spend the inheritance on nursing homes
  - prerok 1y ago
    Capital of the 21st century by Piketty. Highly recommended reading. It points out how slow degradation will happen. You are right in a sense. But it's still a very bad prognosis.
- JumpCrisscross 1y ago
  > you'd expect the younger professionals of today would have comparative amounts of wealth to the boomers when they were young professionals. It's absolutely not the case Source? The data I’ve seen indicate the median millennial is wealthier than the median boomer was at their age.
  - ghushn3 1y ago
    https://www.federalreserve.gov/releases/z1/dataviz/dfa/distribute/table/#range:1989.3,2025.1;quarter:142;series:Net%20worth;demographic:generation;population:1,3,5,7;units:shares https://www.federalreserve.gov/releases/z1/dataviz/dfa/distr... Boomers held significantly higher percentages of capital than millenials or genx holding age steady. https://www.nber.org/papers/w27123 https://www.nber.org/papers/w27123 Studies have shown wealth declining for millenials while increasing for boomers. https://www.self.inc/info/generational-wealth-gap/ https://www.self.inc/info/generational-wealth-gap/ And it's across multiple forms of wealth.
DonHopkins 1y ago
The point isn't comparing boomers and younger generations buying diamonds NOW, but when they marry. Boomers typically don't wait till they're 60 to get married.

by refurb 1y ago

That seems like an obvious observation? People accumulate wealth over a life time of work. It would be entirely expect that younger generations have less wealth than older generations.

ghushn3 1y ago

If that was true, you'd expect the younger professionals of today would have comparative amounts of wealth to the boomers when they were young professionals. It's absolutely not the case. Each generation is getting poorer and poorer as they hit the same benchmarks. This tracks with broad trends of wealth inequality increasing as well. So no, it's not just "they haven't accumulated yet", because it's not clear they will have the opportunity to do so.

naveen99 1y ago
Boomers had a lot more sibling and lot smaller inheritances coming to them. Kids these days will inherit a lot more and share a lot less with siblings.
- adaml_623 1y ago
  Unless Boomers live long enough to spend the inheritance on nursing homes
- prerok 1y ago
  Capital of the 21st century by Piketty. Highly recommended reading. It points out how slow degradation will happen. You are right in a sense. But it's still a very bad prognosis.
JumpCrisscross 1y ago
> you'd expect the younger professionals of today would have comparative amounts of wealth to the boomers when they were young professionals. It's absolutely not the case Source? The data I’ve seen indicate the median millennial is wealthier than the median boomer was at their age.
- ghushn3 1y ago
  https://www.federalreserve.gov/releases/z1/dataviz/dfa/distribute/table/#range:1989.3,2025.1;quarter:142;series:Net%20worth;demographic:generation;population:1,3,5,7;units:shares https://www.federalreserve.gov/releases/z1/dataviz/dfa/distr... Boomers held significantly higher percentages of capital than millenials or genx holding age steady. https://www.nber.org/papers/w27123 https://www.nber.org/papers/w27123 Studies have shown wealth declining for millenials while increasing for boomers. https://www.self.inc/info/generational-wealth-gap/ https://www.self.inc/info/generational-wealth-gap/ And it's across multiple forms of wealth.

DonHopkins 1y ago

The point isn't comparing boomers and younger generations buying diamonds NOW, but when they marry. Boomers typically don't wait till they're 60 to get married.