Young Americans top $10-trillion in assets
Federal Reserve data show younger Americans still hold a small fraction of the wealth of older adults
10 January 2021 - 17:31
Washington — Despite the pandemic-induced recession of 2020, America’s young adults doubled their assets over the past four years, new data from the Federal Reserve show.
This marks the first time the assets for millennials have exceeded $10-trillion. But, this generation, the oldest of whom turns 40 this year, has a huge debt burden as well, according to the report which tracks American wealth through the third quarter of 2020...
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