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Two trends are emerging in recent years. In short, 1 in 6 millennial actually have more than $100k in savings and investments, which is quite impressive. On the opposite end, number of millennial without any savings are increasing. Even in older millennial group (25 to 34), about 4/5 has less than $10k in savings.
There is growing evidence that millennial will be the most unequal generation than all previous ones.
https://qz.com/1130126/millennials-...vious-generations-according-to-credit-suisse/
What do you think the implication of this has on society in a decade?
A 2018 Bank of America survey found that 1 in 6 millennials — which BoA defined as those between age 23 and 37 — now have $100,000 or more in savings. That's impressive, considering few Americans can cover a $1,000 emergency. But that stat doesn't tell the whole story: While some millennials are increasingly proving to be savvy savers, many other young people are not making progress at holding onto their cash.
https://www.cnbc.com/2018/02/09/a-g...illennials-have-absolutely-nothing-saved.htmlA 2017 GoBankingRates survey found that most "young millennials" — which GBR defines as those between 18 and 24 years old — had less than $1,000 in their savings accounts. Nearly half had nothing saved at all. To make matters worse, the share of millennials with $0 in savings is on the rise. In 2016, 31 percent had $0, compared to 46 percent in 2017.
There is growing evidence that millennial will be the most unequal generation than all previous ones.
https://qz.com/1130126/millennials-...vious-generations-according-to-credit-suisse/
What do you think the implication of this has on society in a decade?