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

And broadly, you know, with everyone, it seems like one of the things that's happened is more millennials own homes.

Even though, and that's really offset the fact that they still have a lot of student debt, even, you know, millennials pushing 40.

And with black millennials, I mean, there's been a lot of separate research that shows that they have much more student debt than other racial groups.

Yeah, that's a really great question.

And I guess the debate over student debt has always been, look, you know, your earnings tend to be much higher if you have a four-year college degree than if you don't.

So it does seem like a certain amount of student debt is definitely financially worth it to take on given what you get back in earnings later in life.

And what this found was that people who do not have four-year college degrees also are facing a big gap in wealth expectations.

So if you're a person who didn't have a chance to graduate from college,

your wealth is significantly lower.

I think it's about 20% than people in prior generations who didn't have a four-year college degree.

So if you did go to college, it's pretty easy to replicate what mom and dad did at this point, or to some extent, mostly replicate it.

But if you didn't get a chance to go to college, then it's gonna be pretty hard to do the same.

WSJ Your Money Briefing · Merrill Makes a Play for Younger, Less Affluent Clients · 9 Apr 2019 podcast

So what we've reported on Monday is that Bank of America is going to be putting 300 employees inside the traditional Merrill Lynch wealth management offices, whose job is to sort of help younger, less affluent investors get into digital products.

So basically, the goal here is to make it so that these offices aren't just serving older, really wealthy clients.

They also have some services for younger people with fewer assets.

Yes.

So that's basically why we thought this was really interesting is because it's a nod to the changing world of wealth management.

And, you know, for a long time, a financial advisor, a traditional financial advisor was the only game in town.

And, you know, you might not have enough money to qualify, but when you did, that was really your only choice.

And now these robo advisors who have these digital investing tools for people have really cornered the market on folks with

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