Millennial household ​​wealth lags considerabl​​​​y

stressed out

IN SUMMARY: Despite the keen marketing interest in Millennials figures show that this group is lagging behind considerably in household wealth. Even though household wealth for Millennials has grown a stunning 500% from 2010 to 2019, this cohort only captures 4% of total US household wealth – and just 2% of affluent household wealth.

The period since the end of the financial crisis has seen considerable growth in US household wealth, with the total sum expected to exceed $100 trillion by the end of 2019. 

Packaged Facts estimates that total US household wealth in 2019 will have risen by 62% from 2010’s numbers, with the average household’s wealth expected to reach $783,000 – representing a 48% increase during the same time period.

Packaged Facts reports that in the past 9 years, the number of affluent households (those households with $150K or higher income) has increased by 90%, with average affluent net worth rising 12%. This means that the total wealth held by affluent households – a group that comprises only 14% of US the total – has more than doubled (up 110%).

Despite the keen marketing interest in Millennials, the figures show that this group is lagging behind considerably. Even though household wealth for Millennials has grown a stunning 500% from 2010 to 2019, this cohort only captures 4% of total US household wealth – and just 2% of affluent household wealth.

Separating out net worth along generational lines, it’s Baby Boomers who possess more than half (54%) of all of US household wealth. Affluent Baby Boomer households also make up 57% of the total household wealth in this category, and those Boomers in high net worth households make up 56% of total household wealth.

Millennial household ​​wealth lags considerabl​​​​y