There are 618,000 millennial millionaires

[IsThatBrothaMouzone?]

" There are 618,000 millennial millionaires in the US, and they're set to inherit even more wealth from their baby boomer parents, according to a new report by Coldwell Banker. "


Idk about this .. Wouldn't they have Gen - X parents ?

Nah...Millenials were mostly born between 1980/1982 through 1996-ish. Oldest Millenials are damn near 40 now. Gen-X would be like our older brothers and sisters for the most part. I'm an '86 baby and everyone around my age has parents born between 1945 and 1960.

Millenials = mostly Baby Boomer parents, and we still got beat with belts, switches and extension cords (especially if your parents were born in the 40's and 50's).

Gen Z = mostly Generation X parents....Gen Z would be the college, high school and elementary school kids of today. If you see a kid talking back to his parents and not getting smacked, I can guarantee you his parents are Gen Xers born in the late 60's through the late 70's.

I think of it this way: Uncle Phil and original Aunt Viv....how Boomers interacted with their kids. Dre/Rainbow (black-ish).......how Gen X interacts with their kids.

 

[IsThatBrothaMouzone?]

Don't act like most of these people didn't come from a rich background.

Would like to see how many of the 618,000 are of black descent

Bet the majority is white and asian

Exactly, how many of these rich/future rich Millenials were born working/lower-middle class? Probably less than 25%, my guess. Most were either comfortably middle class but outdid Mom & Dad by studying STEM, or their parents were rich and they got 3 degrees in philosophy. The kids are smart but don't really have to do much beyond working at a non-profit and learning how to maintain the family fortune.

Self-made, multi-generational Americans (no immigrant parents or grandparents).........you really have to scrap to break that ceiling, especially as an ADOS.

 

[MMA]

I was reading the official source earlier this week.
Some information everyone should take a look at: http://blog.coldwellbankerluxury.co...CBGL-Millennial-Report_SEP19_FINAL-4a.1-1.pdf

Ages 23-37
Ages from 23-37
93% are worth 1-2.5m
44% reside in California
14% reside in New York
14% are business owners
2/3 are married
20% are college educated
92% are home-owners
Average owns 3 properties
Average for how much they own in property values is 1.4m
Most of this wealth is in their households
2% of millionaire's in America are millennial's
68 trillion will be passed down in the next 30 years

That's actually a terrible figure (618K) and speaks volumes on the current state of our society. This indicates many in our age group aren't high earners, many aren't retaining wealth, and most of the wealth our generation will see will be earned from inherits. Now imagine how few will see part of the 68 trillion inherited. I don't think I've ever seen a more clear image of economic imbalance in my life. That 68 trillion owned by boomers speaks volumes where everything went to shyt

 

[SleezyBigSlim]

Apparently 44% of those millionaires live in California. Silicon Valley is making the youth rich

This didn't not apply to black folk don't even post this bullshyt here. We locked out of generational wealth transfer globally it's not just an ADOS issue.

 

[dora_da_destroyer]

i'm a paper millionaire

but them fools who cashed on IPO's are real millionaires

" There are 618,000 millennial millionaires in the US, and they're set to inherit even more wealth from their baby boomer parents, according to a new report by Coldwell Banker. "


Idk about this .. Wouldn't they have Gen - X parents ?

no, my brother is gen x, altho there is a big gap between us, and our parents are boomers. my brother had my nephew when he was 24, relatively young, and he's the cusp of gen z/millennial born (1997). millennials in their late mostly have boomer parents except some of the youngest who might have some of the oldest gen x parents

 

[blqbird]

or someone who thinks like a cac

Fixed.
Jokes aside, This is how you get rich.

 

[WSFGDan]

 

[AquaCityBoy]

Why'd they spell out Massachusetts but abbreviate the other ones?

 

[Deflatedhoopdreams]

My parents just hit the boomer cut off, I’m 29.

The oldest baby boomers started turning 65 back in 2011, and many of them have already retired. The aging of this massive generation born between 1946 and 1964 will have significant implications for the entire country, according to a series of recent Census Bureau reports

 

[OfTheCross]

.

 

[invalid]

20% are college educated

There goes that STEM degree theory.

14% are business owners

80% don’t have a degree and 86% don’t own a business?

93% are worth 1-2.5m

Average property values is 1.4m

So most of the wealth is tied up in their homes.


Sounds to me like the majority are simply trust funders that inherited property from parents in prime markets.

Only a good 20% of them seem to be actually talented.

 

[newworldafro]

I would just fuse NY, NJ, MA, and DC together, making it 28% for East Coast. Same basic distance for Cali cities.

 

[Hater Eraser]

There goes that STEM degree theory.





80% don’t have a degree and 86% don’t own a business?






So most of the wealth is tied up in their homes.


Sounds to me like the majority are simply trust funders that inherited property from parents in prime markets.

Only a good 20% of them seem to be actually talented.

 

[SadimirPutin]

I dont believe that number for a second

 

[Easy-E]

We already know the complexion ​

No, this thread is about to filled with "I need to get on my grind."

Meanwhile, that muthfukkkan "Affluenza" CAC is the type to be on this list.

Only 0.02% of black households are worth a single million according to the Federal Reserve

Most black people are rich off their homes. The housing market is shytty right now.