But it all came crashing down in March 2020. The pandemic brought the expansion to a halt, leavingIn a few short months, the coronavirus has shifted everything about American life. And in the process, it's altered spending, saving, and financial planning habits drastically.
. While baby boomers hold about 53% of US wealth, millennials hold just 4.6%. And, at the same age that millennials are now, boomers held 21.3% of US wealth. Without income, 38% of Americans turned to other means to make ends meet, including 401 withdrawals, and borrowing from friends or family.created a federal unemployment benefit of $600 per week, but the extra help only lasted a few months, from the act's passing in March to the end of July.
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