An annual assessment of personal wealth by Swiss banking giant UBS found that the United States was hit harder than any other country last year.of Global Wealth Report Total American net worth will drop by nearly $6 trillion in 2022, 1.8 million Americans will lose billionaire status, report says luck. In fact, in 2022, all generational groups in the U.S., with the exception of one millennial, will see their total net worth decline, the paper notes. messenger. Since 1980, the net worth of the average person born before 1997 has increased by nearly 7%, while the net worth of Gen X has decreased (1.3%). baby boomers (1.6%); and the silent generation, i.e. the generation he was born before 1946 (14.5%).
Millennial secrets? Rising real estate, essentially and more specifically house prices. Compared to other generations, millennials tie more net worth to their homes (37%) than to the stock market, for example. The stock market benchmark, the S&P 500 index, fell about 20% last year. CNN. Helping with this is that last year, 70% of younger millennials and 46% of older millennials bought a home for the first time. National Real Estate Agents Association. Millennials age from 27 now to 42 for him.
A member of this age group who happens to be a financial advisor says the statistic further debunks the myth that millennials are bankrupt or poorly spent. “There’s solid evidence that millennials aren’t really as far behind as previous generations,” Kevin Mahoney told Messenger. “There has been talk for the past 10-15 years that millennials aren’t putting enough effort into their finances, or complaining about them too much, but I don’t know if reality supports that.” Read more millennial stories.)
