Millennials’ average net worth: How the nation’s largest working generation stacks up against the rest

Fortune ^ | 12/22/2022 | Ivana Pino

[SaxxonWoods]

Millennials are classified as those born between 1981 and 1996; the oldest members of this generation are in their early forties, the youngest in their mid-twenties. Many members of this generation are reaching their higher-earning years, starting or already building families, businesses, and becoming homeowners.

According to the Federal Reserve’s 2019 Survey of Consumer Finances, millennials have an average net worth between roughly $76,000 and $436,000. And according to a 2022 report, millennials have more than doubled their total net worth, reaching $9.38 trillion in the first quarter of 2022, up from $4.55 trillion two years prior.

[SaxxonWoods]

"Compared to other generations, the average millennial’s net worth only outpaces Gen Z. The average millennial under age 35 has a net worth of about $76,000; those over age 35 stand at over $400,000. Members of Generation X have average net worths between $400,000 and $833,000, and older generations including baby boomers and the Silent Generation have average net worths of over $1 million."

[HonkyTonkMan]

Correct link -> https://www.msn.com/en-us/money/other/millennials-average-net-worth-how-the-nation-s-largest-working-generation-stacks-up-against-the-rest/ar-AA15k2n0#:~:text=The%20average%20millennial%20under%20age%2035%20has%20a,%241%20million.%20View%20this%20interactive%20chart%20on%20Fortune.com

[Harmless Teddy Bear]

Take out house worth and what do you have?

[SaxxonWoods]

Thanks!

[Nathan _in_Arkansas]

Makes sense seeing as how previous generations have had more time for investment and compound interest to work.

[unclebankster]

As long as the best market for labor since the 1960’s holds up, this generation should prosper as prior generations have prospered.

They are paying more on high asset maturity like real estate & equities but they also have a plethora of employment & income opportunities.

Also, demographics should keep them employed over the next two decades even with the usual business cycle recessions.

[SaxxonWoods]

Article didn’t get that deep. It doesn’t matter though, wealth is wealth, be it cash, real estate, stocks, bonds, etc.

In my case for example, my principal residence is 13% of my net worth. My total real estate interests are the largest source of my net worth at 46% of total assets.

[alexander_busek]

Take out house worth and what do you have?

Subtract their gold and other precious metal holdings, and what do you have?

Subtract their 401k accounts, and what do you have?

Your point?

Regards,

[P.O.E.]

Did they include in their denominator the millions of non-working?

[SaxxonWoods]

Heh, I should have known that was you before getting to the bottom. Yes, I agree completely. The wealth and breadth of opportunities today far exceed any period in my rather long experience. And specific education/degrees matter less than ever.

If I was running at a 105% like the old days the hardest part would be choosing among all the pots of wealth just waiting to be exploited out there.

[seowulf]

“Your point?”

I think the point might be that a primary residence is not a true investment. You have to live somewhere. If you exchange the wealth frm your home you have to put it into another, whether in rent or another house. At best you can downsize and use the excess on othrr things.

[glorgau]

Average not median.

[SaxxonWoods]

Yes, the base is the age group itself.

[Alberta's Child]

That statement is practically self-evident to the point that it’s worthless.

It’s like saying the average high school senior is taller than the average eighth grader … who is taller than the average fourth grader … who is taller than the average kindergartner.

[fretzer]

>Your point?

Can’t answer for him but he could be referring to the volatility in the housing market.

[DIRTYSECRET]

2024. We need a Contract With Millennial America. That will scare the rats big time. We got facts on our side.

[familyop]

"Millennials are classified as those born between 1981 and 1996; the oldest members of this generation are in their early forties, the youngest in their mid-twenties."

Math, math, Ivana! ;D

[DEPcom]

Let’s raise their taxes now.

[SaxxonWoods]

Correct, and the median would be much lower since we are infested with underachievers and those who won’t even try these days.

Doesn’t change the fact that there is more opportunity to build wealth and build it quickly than any other time I can remember. The opportunities today are a magnitude greater than anything I’ve ever seen.

[sit-rep]

$76,000 and $436,000

bullshit...