The point of the graph is that the right edge for Millennials (last born 1990, aged 30 in 2020) is the same average age as the left edge for Boomers (last born 1960, aged 30 by 1990), and they're nowhere near caught up.
Also of note is that GenX-ers were at about 8% in 2005, so they were doing twice as well as Millennials are, and even at 45 with another 15 years of work, they haven't quite caught up to where the Boomers were at 30.
Of course, this is all thrown out of the window because a generation's 'share' of the overall wealth of a nation is not a per-capita statistic, Even today, the average Boomer could have the same amount saved up as the average member of Generation X, and the greater total amount would be held by Boomers.
Average Wealth in Adjusted Dollars by Age is a way more sensible graph so you don't have arbitrary "generations" that you also have to mentally align and scale for population size.
This one stops at 2010, but as you can see it's been basically flat for younger than 50. The reason why the elderly amass more wealth is because they're living longer. Wealth turns over to younger generations through inheritance or paying for nursing homes. American living an extra 10 years in 2010 vs 1960 means their wealth hasn't turned over yet.
Maybe it changed a lot after 2010 or it doesn't seem like there's much of a problem.
I don't understand what the point is here.
The graph is moronic. Of course older people have accumulated more wealth.
Are they saying millennials are too dumb to understand a graph?
The point of the graph is that the right edge for Millennials (last born 1990, aged 30 in 2020) is the same average age as the left edge for Boomers (last born 1960, aged 30 by 1990), and they're nowhere near caught up.
Also of note is that GenX-ers were at about 8% in 2005, so they were doing twice as well as Millennials are, and even at 45 with another 15 years of work, they haven't quite caught up to where the Boomers were at 30.
Of course, this is all thrown out of the window because a generation's 'share' of the overall wealth of a nation is not a per-capita statistic, Even today, the average Boomer could have the same amount saved up as the average member of Generation X, and the greater total amount would be held by Boomers.
Average Wealth in Adjusted Dollars by Age is a way more sensible graph so you don't have arbitrary "generations" that you also have to mentally align and scale for population size.
This one stops at 2010, but as you can see it's been basically flat for younger than 50. The reason why the elderly amass more wealth is because they're living longer. Wealth turns over to younger generations through inheritance or paying for nursing homes. American living an extra 10 years in 2010 vs 1960 means their wealth hasn't turned over yet.
Maybe it changed a lot after 2010 or it doesn't seem like there's much of a problem.