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Gen Xers are accumulating less wealth than parents
September 22, 2014
Though Gen Xers may be taking home a bigger paycheck than their parents did at the same age, CNN Money reports that only 36 percent of Gen Xers have more wealth than their parents.
“They are on track to be the first in recent history to fall behind previous generations in terms of wealth accumulation, a key indicator of economic security and particularly retirement preparedness,” Pew Research Manager for Security and Mobility Diana Elliott told CNN. The typical Gen Xer has only $29,100 in wealth, compared to the $65,200 that their parents had at the same age.
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