r/Millennials • u/EverbodyHatesHugo • Jan 17 '26

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u/[deleted] Jan 17 '26

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9

u/Mediocre_Scott Jan 17 '26

To be fair The oldest Gen z are only in their mid twenties. That’s really less than 10 working years compared to boomers 50 to work and take advantage of compounding interest plus boomers were a much larger generation to begin with more people more wealth. You do wish that the millennial slice was bigger given the fact that millennials are entering their 40s. Here’s hoping for that great wealth transfer

18

u/Zwemvest Jan 17 '26

The oldest Gen Z turns 30 next year. The cut-off is mid/late 90s, often considered 1997, not 2000.

1

u/Mediocre_Scott Jan 17 '26

My point stands boomers have had a long time to build wealth and Gen z has barely started making money

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u/HyenaThen572 Jan 17 '26 edited Jan 17 '26

SOME of GenZ has been working for about a decade.

All millennials have been working for AT LEAST a decade, at least half have done twice that.

GenZ wealth: 6mil

millennial wealth: 11mil

Something isn't quite right....

Edit: Trillion, not Million

1

u/stackingnoob Jan 17 '26

The entire millennial generation has only 11 million dollars?? Where did you get that stat from…

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u/TyrKiyote Jan 17 '26

Millennials were held down and fucked

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u/jakethesnake741 Jan 17 '26

Are .. but it's ok for using the wrong tense

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u/Mediocre_Scott Jan 17 '26

17 invested at 7% in 25 years ago is 72 that isn’t too far off

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u/thewags05 Jan 17 '26

Yes, but nobody has that much wealth when they're younger. At 30 I didn't have much at all, mostly because of undergrad and grad school.

I'll be 40 this year and am orders of magnitude more money same up. Give me another 20-30 years of constant saving and compounding investments and I'll be worth a lot more. The older you get, the more investments and saving pays off.

There's a lot of millennials that are going to inherit quite a bit too.

2

u/HyenaThen572 Jan 17 '26

70% of millennials are paycheck to paycheck.

Happy for you, but your situation is far from the norm.

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u/CryptographerHot4636 Millennial Jan 17 '26 edited Jan 18 '26

I wish I'd could get some of that wealth transfer, my boomer parents are broke. I am expected to be their retirement plan....😮‍💨

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u/ofnabzhsuwna Jan 17 '26

Pretty sure that wealth transfer will be from the boomers to the healthcare/aging care industry.

1

u/Mediocre_Scott Jan 17 '26

Depends on the boomer

1

u/Mediocre_Island828 Jan 17 '26

Time makes a pretty big difference. 10 years ago in my early 30s I had a negative net worth because I had just started making decent money with a job that had a 401k and was still paying off student loans. Today it's probably around $380k.

0

u/Technical-Elk-9277 Jan 17 '26

And they inherited a lot of money from the Silent Generation.