Millennials Poised to Inherit $90 Trillion, Becoming Richest Generation Despite Early Struggles
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$90 trillion in assets will be transferred from boomers to millennials over the next 20 years, making millennials the richest generation ever.
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Millennials have struggled more than previous generations, dealing with student debt, unaffordable housing, and a volatile job market.
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Over 50% of millennials are relying on an inheritance of at least $350,000 from their boomer parents.
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Housing will continue to be a major focus of spending for millennials using their newfound wealth.
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The threshold for being in the top 1% of wealthiest Americans has risen to over $5.8 million in net worth.