It turns out, the often-criticized avocado toast wasn't dragging millennials down.
Quite the opposite.
The Wall Street Journal reports that millennials like myself are now quote better off than Gen Xers and boomers were at their age.
My generation, mostly born in the 1980s saw our median household net worth more than double to $130,000 between 2019 and 2022.
For those born in the 1990s, net worth has more than quadrupled.
What's driving this change? Houses.
Skyrocketing home prices have benefited millennial homeowners, regardless of when they bought.
But it's not all rosy.
Inequality within the millennial generation has grown:
Racial and educational disparities have widened.
Student debt and those mortgage payments create further divides.
But the truth is 130,000 as nice as that is, isn’t what it was 30 years ago, or even three years ago when you factor in inflation
The cost of childcare and health care have spiked. Grocery trips have easily doubled in the last few years.
Are millennials truly better off overall?
What's your experience? Do these findings match your financial reality? Share your thoughts in the comments.
On that note, I'm James Brown, and as always, be well.
Are Millennials better off than other generations