Rachel Louise Ensign

speaker

574 appearances 12 recordings 1 series first heard Jan 2018 last heard Jan 2024

Rachel Louise Ensign’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · College Debt Hits Black Millennials Especially Hard · 10 Aug 2021 podcast

So they have assets on one side, which are the homes they own, the money they have in their retirement and investment accounts and all of that.

And then they have liabilities, which are basically debts that they owe.

And so if you have a massive liability that's just hanging around like a large amount of student debt,

which many black households do, that we looked at, it's going to be very difficult to outweigh that with your assets and build up a significant amount of wealth.

And if you have a very large student loan debt that you're struggling to pay off, it's going to be very difficult to build wealth.

In other ways, just because you're financially strained, it's going to be harder to buy a home, harder to invest in stocks, and

build a retirement account.

And what research has found is that black households in general are significantly less likely to own homes and also stocks and retirement accounts than white households.

WSJ Your Money Briefing · Why the Wealth Gap Is Shrinking for Some Millennials, But Not All · 30 Mar 2021 podcast

Homeownership is really the way that millennials are building wealth.

Homes are Americans' biggest asset in general.

And what these researchers have found is that

Older millennials are finally starting to own homes at the rate that their parents did at their age, and that's really good news for their wealth.

Thanks for having me.

Well, I mean, millennials are an enormous generation just in numbers.

So it's a huge demographic that matters to, for instance, any company, any bank trying to sell products to people or retailer trying to do the same.

And I think what's really interesting about millennials through this lens is that for so long, millennials were sort of just seen as like the

angsty 20 something in the workplace who got a degree in knitting and took on a bunch of student loan debt to do that but in reality millennials are actually getting pretty close to middle age on the upper end oldest millennials are 40 now and you know this is starting to look at hey these aren't just all college kids or kids just out of college who have no money

What do their finances look like?

What are they like as homebuyers?

And where are they in terms of wealth?

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