Reply to Why do people think Boomers had it so good?

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[quote=Anonymous]Millenials are whiny and entitled. Boomers have more money because they’re older. Millenials are richer than Boomers were at their age. It takes time to build wealth.

https://www.wsj.com/personal-finance/millennials-personal-finance-real-estate-50742ffe?st=qrfc0qlfqglupds&reflink=article_copyURL_share

The median household net worth of older millennials, born in the 1980s, rose to $130,000 in 2022 from $60,000 in 2019, according to inflation-adjusted data from the Federal Reserve Bank of St. Louis. Median wealth more than quadrupled to $41,000 for Americans born in the 1990s, which includes the generation’s youngest members, born in 1996.

The turnaround has been so dramatic that millennials—mocked at times for being perpetually behind in building wealth, buying homes, getting married and having children—now find themselves ahead.

In early 2024, millennials and older members of Gen Z had, on average and adjusting for inflation, about 25% more wealth than Gen Xers and baby boomers did at a similar age, according to a St. Louis Fed analysis.[/quote]

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