Dale L. Shafer II, CFP®, CBEC®, APMA®’s Post

There are two millennial generations: “broke millennials” and the top 10%, who are wealthier than any other generation at the same age. A new study attributes the wealth of top 20- and 30-something’s to career and family paths. I cite another factor: the Great Wealth transfer and inheritances. Do you see evidence of growing inherited wealth among millennials? My latest from the Inside Wealth newsletter… #millennials #wealth #wealthy

This article has a number of points about how the millennials face challenges and options very different than their recent historical analogy- the baby boomers. Aside from obvious things like lockdowns and the economic crisis, the millennials also have more options when it comes to spending as well as saving than prior generations. I am going to point out "there's an app for that" isn't a joke; it's quite literally the world now where entertainment, meal, and financial subscription services exist. Proper education and crafting a spending plan is the first step on the way to showing how the millennial generation can outperform the baby boomers. I'm excited to see the entrepreneurship develop in this generation. https://lnkd.in/gSDPD9Cc

Lo and behold, millennials did buy homes. Redfin data shows millennials are more or less on track with previous generations. Young people often blame all of life’s problems on the baby boomers or lament the fact that boomers had it so much easier. This will be millennials someday. Millennials will be crushed in the future for buying cheap housing the 2010s and getting 3% mortgages in the early-2020s. Future generations will hate us too. It’s the generational circle of life.

"Boomers and Millennials: Bridging the Generation Gap!" Discover how these two generations differ in their values, experiences, and perspectives, and learn how they can come together to create a brighter future. Don't miss this eye-opening article on the fascinating world of Boomers and Millennials! #Boomers #Millennials #GenerationGap

Will Millennials be the richest generation? A recent story in The Guardian says yes, but let's unpack the logic. 💰 🏡 The rationale is very simple: Millennials stand to inherit expensive properties from the Baby Boomers. 🤔 But inheritance alone doesn't guarantee long-run wealth, especially if property values are inflated. 🔍 The optimism about Millennials is good, but we should look to generate wealth through other means than just inheritance. That is helpful fuel, but it won't sustain a lifetime. We need to improve financial literacy and strategic decision-making across the board. #financialplanning #millennials #housing #financialeducation https://lnkd.in/eXT-JQhM

Millennials: Here Are 8 Key Signs You’re Doing Better Financially Than Boomers Were at Your Age

Millennials - those born between 1981 and 1996 - are set to be the richest generation ever. According to Knight Frank's latest annual wealth report, millennials can expect a US$90 trillion inheritance in the US alone over the next 20 years, largely from property, as baby boomers and the silent generation hand over the reins. Other key findings in the report include: 🔴 Gen-Z are the most confident generation in their ability to create wealth 🔴 The super-rich are on the rise 🔴 A concern for sustainability will shape investment decisions among younger wealth-holders Click the link below to read the full article.

I find this note highly interesting. The wealthiest 10% of Millennial households in 2022 saw a 140% increase over the wealth their boomer peers had in 1992. Despite many Millennials finding financial success, the generation may also be one of the most economically divided. The wealth gap among Millennials is 20% wider than it was for boomers, and the poorest 10% of Millennial households came out behind their boomer peers. (Source: Barron’s)

It used to be a battle between generations: the #babyboomers who had it easy, bought their own home and were able to save money, versus the economically worse-off #millennials. Sure thing, both in the UK and US, the average millennial has accumulated less wealth by age 35 than the average boomer at the same age. But there's another story. 👉The rich-poor gap is widening in the #millenial generation 👉The wealthiest millennials now have 20% more than the babyboomers had, while the less well-off have 30% less. 👉The intra-generational divide will be worst than its inter-generational version 👉No wonder millennials are anxious 😨 👉This doesn't look like an unwanted side-effect of #meritocracy, but rather like a system that doesn't work and, possibly, is a rigged (hint: deep-pocketed parents often make the difference) 👉The prospect of a world in which the distance between the haves and the have-nots is increasing worries me 😟although my generation will be off-the-hook: with the richer millennials taking our place as prime targets of resentment. More details in the original study: Life Course Trajectories and Wealth Accumulation in the United States: Comparing Late Baby Boomers and Early Millennials https://lnkd.in/dTSf6Yph

How Boomers and Millennials Differ? Check out this quick read! Find out about what's happening regarding the YOLO economy (You Only Live Once)!