If that was true, you'd expect the younger professionals of today would have comparative amounts of wealth to the boomers when they were young professionals. It's absolutely not the case. Each generation is getting poorer and poorer as they hit the same benchmarks.

This tracks with broad trends of wealth inequality increasing as well.

So no, it's not just "they haven't accumulated yet", because it's not clear they will have the opportunity to do so.

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naveen99 4 days ago | parent | next [-]

Boomers had a lot more sibling and lot smaller inheritances coming to them. Kids these days will inherit a lot more and share a lot less with siblings.

	▲	prerok 4 days ago \| parent \| next [-]
		Capital of the 21st century by Piketty. Highly recommended reading. It points out how slow degradation will happen. You are right in a sense. But it's still a very bad prognosis.
	▲	adaml_623 4 days ago \| parent \| prev [-]
		Unless Boomers live long enough to spend the inheritance on nursing homes

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JumpCrisscross 4 days ago | parent | prev [-]

> you'd expect the younger professionals of today would have comparative amounts of wealth to the boomers when they were young professionals. It's absolutely not the case

Source? The data I’ve seen indicate the median millennial is wealthier than the median boomer was at their age.

	▲	ghushn3 3 days ago \| parent [-]
		https://www.federalreserve.gov/releases/z1/dataviz/dfa/distr... Boomers held significantly higher percentages of capital than millenials or genx holding age steady. https://www.nber.org/papers/w27123 Studies have shown wealth declining for millenials while increasing for boomers. https://www.self.inc/info/generational-wealth-gap/ And it's across multiple forms of wealth.