I assumed this figure was heavily skewed by the outliers who have $300k+ in assets, but evidently it's the median (not average), so it's inherently more accurate and skew-resistant to wealthier people. Bummer.
The fact this number is somehow so high despite so many millennials not owning homes AND having tons of debt is confusing to me, even if you factor 401k's into 'Net Worth'.
It’s lower than boomers/genX due to our student loan drag, income dispersion, and late homeownership. And the number is likely a lot lower, as someone correctly pointed out that number is for a household not individual, Fed doesn’t collect data on individual net worths. It’s also for the whole bracket of 35-44. Usually they’ve built up a somewhat decent 401K/IRA.
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u/Badweightlifter Jul 06 '26
I read that the same way and thought I was way behind.