10 Feb 2024 12:02 pm
If you were wondering what "the catch" is:
Despite that eye-popping growth, Americans younger than 40 still hold significantly less wealth than older Americans; by Q3 2023, they held $9.5 trillion, compared with $103.7 trillion for those 55 and older. But the increase in net worth since the pandemic, which outpaced that of older generations, helped slightly narrow that disparity. In 2019, those under 40—about 37% of the adult population—held 4.9% of total U.S. wealth. By 2023, that share crept up to 6.7%.
I suppose an 80% increase of a **** number is a less **** number!
Despite that eye-popping growth, Americans younger than 40 still hold significantly less wealth than older Americans; by Q3 2023, they held $9.5 trillion, compared with $103.7 trillion for those 55 and older. But the increase in net worth since the pandemic, which outpaced that of older generations, helped slightly narrow that disparity. In 2019, those under 40—about 37% of the adult population—held 4.9% of total U.S. wealth. By 2023, that share crept up to 6.7%.
I suppose an 80% increase of a **** number is a less **** number!