A Life-Cycle and Generational Perspective on the Wealth and Income of Millenials
Author: Ray Boshara, William R. Emmons
Topic: Financial well-being
Location: United States
Format: Brief
Content Type: Research
Publication Date: December 1, 2014

Young adulthood is the life stage when the greatest increases in income and wealth typically occur, yet entering into this period during the Great Recession has put Millennials on a different trajectory. As a result, this generation will need to make very large gains in the years ahead to compensate for these shortfalls.

Understanding the dynamics of how the recession has impaired the financial outlook of Millennials, such as identifying how far behind they are compared to previous
generations of young adults, the impact of the recession on their current wealth holdings and earning potential, and the pace at which they’re recovering, is essential to developing appropriate policy interventions that can put them back on track.

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