According to the central bank, those born between 1981 and 1996, better known as Millennials, control only 4.6% of the wealth in the country even though they make up the majority of the workforce, with around 72 million people.
While it is not unusual for younger people to accumulate
Millennials are around 21% of the population. Looking at the chart, anyone younger (unexpected to work or control wealth yet) would be about 30% percent.
That puts millennials at the bottom of the workforce (youngest) so I wouldn’t expect them to control a huge chunk of wealth yet. Also boomers (at the top of wealth holders, and still 20% of population) aren’t all dead yet and have had the longest time to accumulate wealth. So I’d expect them to hold the largest share.
https://www.statista.com/statistics/296974/us-population-share-by-generation/
Many millennials are in their 40s at this point and Gen Z is past college years. Heck, Gen Alpha will be flipping burgers in less than a decade.
So when exactly is it time for the millennials (also Gen X–shout-out to the generation that always gets left out of conversations) to start accumulating net worth?