Millennials are building wealth faster than older generations. What's their secret?

In financial terms, millennials are having a good decade. The generation born between 1981 and 1996 has built wealth faster than either Generation X or baby boomers in the 2020s, according to several recent reports. Another batch of studies show that millennials have more wealth now than older generations held at the same age. “They’re doing better than we did,” said Christian Weller, a Gen Xer and senior fellow at the Center for American Progress (CAP), a liberal think tank. A 2024 report from CAP found that the average wealth of under-40 Americans rose by 49% between the end of 2019 and the end of 2023, to an inflation-adjusted average net worth of $259,000. That group includes millennials and the oldest of Generation Z. Millennials, by themselves, saw their wealth double in those years.  Hosted on Acast. See acast.com/privacy for more information.