show me the money!
Millennial Wealth Is Booming. It Turns Out Avocado Toast Didn't Tank Them After All
It turns out that, after killing off brands and choosing avocado toast over homeownership, millennials are getting wealthy.
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The Lede
After years of killing off brands, languishing with student loans, and splurging on avocado toast instead of buying houses, millennials might finally be emerging on top. A new analysis found good news for the much-beleaguered millennial generation: Their wealth grew at a historic clip.
Key Details
- A new report from the Center for American Progress looks at how wealth changed for different age cohorts from 2019 to 2023.
- Wealth gains were even higher when looking just at millennials, who were ages 23 to 38 in 2019; they saw their wealth double from the end of 2019 and 2023.
- You might be able to chalk some of millennials' gains up to the robust labor market that pandemic-era stimulus birthed.
