Millennials are already experiencing generational wealth at a rate that is outpacing any other age group.
As of 2017, they have a net worth of $1.8 trillion, which is an amount equal to 20% of the US economy.
The report from Credit Suisse Research found that this amount equates to the equivalent of the combined assets of the following families:The median wealth of Millennials is $72,800.
This is the highest in the world, according to Credit Suse Research, and it’s almost equal to the wealth of Generation Xers.
The median wealth is a little lower than the $71,000 of Generation Yers, but it is still higher than that of the Millennials.
This means that the Millennial generation has an even higher net worth than the Generation X generation.
In a previous report, Credit SuSE noted that the wealth disparity between the Millennials and Gen Xers is even greater.
In the study, the report notes that Generation X has a net asset value of $10,800, whereas the Millennials have a median net asset worth of only $3,700.
This is just one of the many statistics that highlight the generational wealth gap.
It also highlights that the average American household is in fact struggling financially, and many are living paycheck to paycheck.
Millennials are the ones who are getting pushed into the poverty line, and their generation is the one most likely to live in poverty.