Re:More Americans are considering retirement
by refurb on Saturday October 16, 2021 @10:13PM
(#28893389)
That is a terrible chart. Of course share of wealth goes up as you get older - you’ve had more time to acquire it. They’ve attempted to adjust for age, but it’s not helpful when the oldest millennial has barely entered the workforce.
The chart also ignore the population share of each generation - Baby boomers made up a massive part of the US population - 70M out of a population of about 210M (1980) or 33% when they hit working age.
Millennials are slightly larger in numbers - 72M, but smaller part of the total of 330M (2020) or 21%.
Crude analysis and you’d have to assume everything else remains the same (it doesnt), but if all wealth was equally distributed by age you’d expect Millenials (of the same age) to have about 33% less share of the total wealth based on population alone.
Which isn’t far off from that chart if you assume Millennials track similar to Gen-X.
The chart also ignore the population share of each generation - Baby boomers made up a massive part of the US population - 70M out of a population of about 210M (1980) or 33% when they hit working age.
Millennials are slightly larger in numbers - 72M, but smaller part of the total of 330M (2020) or 21%.
Crude analysis and you’d have to assume everything else remains the same (it doesnt), but if all wealth was equally distributed by age you’d expect Millenials (of the same age) to have about 33% less share of the total wealth based on population alone.
Which isn’t far off from that chart if you assume Millennials track similar to Gen-X.