Want to lure a millennial into a trap? Fill it with craft beer, Creed, and the DVD box set of Full House. You got it, dude. 😏👍
Make no mistake, avocado toast-loving millennials know how to manage their money. 🤑 According to a couple recent surveys, the Y2K generation is banking more wealth faster than the others.
Here’s Five Fast Facts on millennials and wealth:
- 💅 Y 2 Slay - The pandemic hit us all faster and more furious than Vin Diesel. However, millennials took on the financial challenge and came out on top. According to data from the Fed, millennial total net worth jumped by almost 4x ($3.94T in Q3 2019 to $15.95T in Q3 2024.
- 🥇 First Place - A recent report showed Millennials made more financial progress than the older generations between 2020 and 2025. Gen X experienced a wealth growth of 76% and Boomers 40%. In the same time frame, millennials grew by 137%.
- 💰 Wealth Watch - In another survey, Americans under 40 years old got an average wealth boost of 49% between 2019 and 2023. Millennial wealth grew by 13% in 2024 alone, which was also higher than Gen X and Baby Boomers.
- 📈 Stonky Tonk - So what are millennials doing to earn these bragging rights? For one, they’re smart investors and have been able to stay steady even when the market’s going bonkers. The average millennial IRA increased by 110% since March of 2020.
- 🏘️ Raise the Roof - Millennials are also real estate savvy. Between 2020 and 2025, acquired properties grew in value by 40%. If you skipped out on enough Starbucks for that down payment before the pandemic, you might be (house) sitting pretty.
🔥Bottom line: Millennials might be cringe, but they’re laughing all the way to the bank. They’re also laughing all the way to Sephora to grab the latest undereye cream while telling you they don’t look their age. Is the government really giving out cash for having kids? In this article, we lay out some of the rumored plans to boost the U.S. birth rate.
Are you on track with your savings goals?
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