Millennials dominate the US workforce, but they're still 10 times poorer than boomers - Business Insider

, more than any other generation. By comparison, there are 41 million boomers in the workforce.

This wealth gap is partially explained by the fact that boomers are older, so they've had more time to accumulate wealth. Millennials haven't yet reached theirindicate that the wealth gap shouldn't be this big. When boomers were millennials' age in 1989, according to the Fed data, they held 21.3% of US wealth. That's four times the 4.6% that millennials hold today.

Wealth for those above age 70 has increased, but it's not as significant as the increase in wealth for those in the 55 to 69 age group. This indicates that boomers are outpacing the Silent Gen in wealth accumulation as they enter retirement. Meanwhile, wealth for those in the 40 to 54 age bracket and for those under age 40 has decreased, which indicates that millennials and Gen X are lagging behind boomers as they move into those age brackets.

Boomers didn't have to compete with gigantic companies giving everything away in exchange for personal data. They didn't have insurmountable educational debt. And I'm sure these are just the tip of the iceberg.

AscenziAndrea Zoomers will pick up the pieces

Boomers have been working for 50 years or more. How long have Millennials been working? LOL!!! Some people just can't think. LOL!!!

Most jobs from manufacturing to accounting, finance went to other countries encouraged by Bush, Obama admin. But some among millennials still vote for these people who is actually hurting them badly.

Most jobs ,from manufacturing to accounting, finance ,went to other countries which is encouraged by Bush, Obama admin. But some among millennials still vote for these people who is actually hurting them badly because of brainwash by media

Because boomers were under good policy, and millennials are suffering because jobs were offshored under Bush, Obama admin.

Sounds like they needs to switch to cyber...

Not in my neighborhood they're not.

So, wait, you're telling me that people between 56 and 74 years of age have had an opportunity to accumulate more wealth than people between 24 and 39 years of age?

looking to grow your financial status via making investments on bitcoin trade by a professional trader with as little as $500 to earn a minimum of $7200 ? Contact me for more information pin me a message or contact on Business WhatsApp +15136664172

They need to pull themselves up by their bootstraps and all that

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Singapore Airlines fine-dining restaurant inside aircraft sells out - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. why?
Source: BusinessInsider - 🏆 729. / 51 Read more »

Inside the investment portfolio of a millennial homeowner - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Inside the investment portfolio of a millennial homeowner - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »

How to budget your time more effectively and achieve a healthy balance - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Why some Boston parents were against staggered school start times - Business InsiderBoston schools wanted to stagger start times to save on transportation costs and improve student health. Here's why parents were against it — and what it can teach us about pandemic planning. (via KelloggInsight) KelloggInsight Americans opt for liberty over life. This is not a bug, it’s a feature.
Source: BusinessInsider - 🏆 729. / 51 Read more »

About 4 times as many women than men reported they were unemployed last month - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. When you have the worst Policy Error ever aka the Shutdown you have all sorts of collateral damage 🙃
Source: BusinessInsider - 🏆 729. / 51 Read more »