Rachel Louise Ensign

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

And I mean, one of the things that really shows the importance of millennials is just been the whole Robin Hood thing.

And obviously, it's not all millennials on Robin Hood, but just the incredible interest in trading and investing.

I mean, many of those people are in this age group, and it just shows that

They do have extra money and they are interested in putting it to work and hoping for a big payoff, which is how many people do use Robinhood.

So, I mean, it remains the same as it was for prior generations.

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 accumulation because homes are such an important part of that.

Basically, since, like you said, millennials graduated into the post-financial crisis economy, there's been a lot of concern that

they would just never catch up with their parents and grandparents financially.

Student debt was hobbling them and inability to find good jobs that would allow them to pay down that debt and get into a place where they could have a down payment for a home.

But it turns out that

Millennials in their 30s have sort of started to turn things around and the gap between them and where they're expected to be based on prior generations is closing a lot.

So just three years ago in the 2016 survey, it was about 40%.

And now it's only 11%.

So that's a major shift.

And the researchers who oversaw this said, you know, we had been really concerned that these folks would have been a lost generation of wealth.

But now it looks like they're just starting later, but catching up pretty quickly.

It's a really great question.

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