Boomers vs Millennials: Facts, Insults, Charts, Memes and More


N20GT

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I've long held that the american baby boomers siphoned off, then destroyed, more wealth than any generation before them and likely any generation after them will ever be able to. They had it absurdly easy at a young age, needlessly started a bunch of wars/conflicts for the younger generation to fight in (this is barely touching the tip of the iceberg when it comes to boomer policies), then refused to retire so they didn't have to cede control and could amass as much wealth as possible while doing as little as possible. If I had ten bucks for every underwhelming one-finger-typing boomer I personally knew that wasn't good for much except telling stories amongst other boomers yet managed a pension buyout, severance and post-retirement healthcare on top of their 401k and SS. We'll, I'd almost be as well off as a boomer with an IQ of 80 that spent half of their 50 year career asleep.

Boomers: Come at me let's have some fun. Young people: Pile on!!

When baby boomers (born between 1946 and 1964) hit a median age of 35 in 1990, they collectively owned 21% of the nation’s wealth.

The millennial generation will hit that 35 median age in four years and they are nowhere near owning that percentage.

In fact, this inter-generational wealth chart drawn by economist Gray Kimbrough using Federal Reserve data is a stark illustration of the yawning millennial wealth deficit.

As a whole, boomers have fared better financially than Gen Xers (born between 1965 and 1980) and millennials (born between 1981 and 1996) throughout every stage of their lives. Boomers currently boast more than half (57%) of the nation’s wealth, while Gen X owns just 16%, and millennials 3%.


Adults under 40 have been accumulating less and less wealth over the past 30 years, plummeting from owning 13% of the wealth in 1989 to less than 7% today.


Indeed, at a median age of 35, Gen Xers owned just 9% of the nation’s wealth in 2008 — less than half what boomers had at that age. And millennials will have to triple their net worth in the next four years to catch up to Generation X at 35, and increase their wealth sevenfold to catch up to boomers at that age.
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SpeedSpeak2me

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This should be interesting. My parents were both born just prior to the defined "boomer" years, so they're over 55. Neither of them exhibit or demonstrate any of the "traits" shown above. Maybe it was those 1-3 years before the boom that saved them, LOL.
 
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