Tag: wealth gap

• Our intergenerational wealth gaps

  Gen Xers lagged far behind Baby Boomers in the percentage of U.S. household wealth held at similar ages. Millennials lag even further behind.
  
  Boomers continue to hold steady at over 56% of U.S. household wealth. pic.twitter.com/4ICYseGAYZ

  — Gray Kimbrough (@graykimbrough) November 24, 2019

  This is a chart by economist Gray Kimbrough from 2019. I recently saw it resurface and so I thought I would reshare it here on the blog.

  The y-axis is the percentage of US household wealth (by demographic cohort). And the x-axis is median cohort age. So one way to look at this chart is as follows.

  When the median age of a Baby Boomer was 35 (which happened in 1990), they owned about 21% of US household wealth.

  When the median age of a Gen Xer was 35 (which happened in 2008), they owned about 9% of US household wealth.

  Millennials haven’t yet hit a median age of 35, but in 2019 they owned about 3.2% of US household wealth.

  Of course, one thing to keep in mind is that these demographic cohorts are not the same size. In 1990, Boomers represented 31% of the US population. And in 2008, Gen Xers were only 22% of the population.

  But even if you normalize, there are some intergenerational wealth gaps here.

  2021.09.01