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No longer a ‘lost’ generation: Millennials born in the 1980s are finally getting richer

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Older millennials are finally getting richer.

Over the past three years, they’ve gained serious ground in building wealth, according to a new report by the Federal Reserve Bank of St. Louis that studied data from the Survey of Consumer Finances. As of 2019, those born in the 1980s have median wealth levels 11% below where they should be if the Great Recession hadn’t occured.

While this indicates millennials are still afflicted by the lingering effects of the financial crisis, it’s a far cry from where they stood in 2016, per a 2018 St. Louis Fed details ⇒

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