The Millennial wealth gap: Americans born between 1981-1996 are accumulating savings at a much slower pace than prior generations, study finds

submitted by HeyImSancho from dailymail.co.uk

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[–]cmdrrockawesome 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (2 children)

This isn’t a shock. I’m a millennial (1983) and I’ve witnessed this all first hand. The Great Recession stymied economic growth for at least a decade and delayed economic and personal milestones for the same amount of time or more. People didn’t buy houses or other large investments and their earning potential was hampered. We’re only now starting to recover.

[–]HeyImSancho[S] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

I don't think we're recovering, when looking at the longer trend of less, and less tangible property that can be liquefied if needed, as compared to consumer crap that drops in extreme value right after purchase.

Wages have just started going up in the last few years, but had remained stagnant for the last 30. If you compare buying power of wages say 1998 to now, and I think we're seriously off by at least 40%, or more when looking at some commodities.

[–]cmdrrockawesome 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

Wages have stagnated for the past few decades, and are only now showing the slightest signs life. I believe this is what has led to the appeal of politicians like Bernie Sanders, Elizabeth Warren, and Alexandria Ocasio-Cortez. They at least acknowledge the disparity between the Baby Boomers and (to a degree) Gen Xers and Millennials. I've often said that I doubt most Baby Boomers would be able to accomplish everything they have in their lives if they had been born in my generation.