Joe Pinsker

speaker

1,247 appearances 30 recordings 1 series first heard Oct 2022 last heard Jan 2025

Joe Pinsker’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · How Do Americans Feel About Their Finances? It’s Complicated · 10 Sep 2024 podcast

Lower mortgage rates in the coming months or years might give a bit of relief to buyers and sellers in what's been a tough market.

We have a tendency to look at these sort of big picture aggregate economic data points like consumer spending and GDP growth.

And those are, of course, very helpful in figuring out the state of the economy.

For this story, we also wanted to kind of look at what a quote unquote typical American's finances look at right now, especially as a counterpoint to some of the bigger picture data points that we often fixate on as people who follow the economy.

WSJ Your Money Briefing · Millennials Are Now Wealthier Than Generations Before at the Same Age · 16 Aug 2024 podcast

There's this feeling maybe that it could disappear. voice-verified

And that's a really potent and scary feeling for people who, during their formative years, witnessed the Great Recession. voice-verified

And so even if many people in this generation have been very successful, there still is that sensation of looking over their shoulder and sort of waiting to see the next thing that happens. voice-verified

It's a pretty big one. voice-verified

For a long stretch of their adulthoods, millennials have been behind where we would expect a generation to be at their age financially. voice-verified

But lately, that has turned around. voice-verified

The median household net worth of older millennials was about $60,000 in 2019. voice-verified

And three years later, in 2022, it had more than doubled to $130,000, according to the St. voice-verified

Louis Fed. voice-verified

And the turnaround for the generation has been so big that if you look at millennials along with some older members of Gen Z, that group of adults was 25% wealthier at the beginning of this year than Gen Xers and Baby Booners were in the past when they were a similar age. voice-verified

Are they popping champagne is maybe a different question that we can kind of get to. voice-verified

This is a generation with a lot of economic scars and memories of tough times. voice-verified

So that's a bit more mixed. voice-verified

It really is a mix of things. voice-verified

For many older millennials, it was about having a pretty rocky start and finishing their schooling in the Great Recession or the wake of the Great Recession. voice-verified

For many younger ones, it was sort of being unable to afford a home and feeling like they couldn't get ahead. voice-verified

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