Is the retirement picture for Millennials looking better?

Chen, Anqui, Nilufer Gok, and Alicia Haydock Munnell. “Is the retirement picture for Millennials looking better?”. Issue in Brief 24-18, Chestnut Hill, Mass.: Center for Retirement Research at Boston College, August 2024. http://hdl.handle.net/2345/bc-ir:110149.
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Abstract

The brief's key findings are: (1) Millennials started their careers in weak labor markets, so initially they lagged behind Late Boomers and Gen Xers at the same ages in life events and wealth. (2) Strikingly, data for 2022 show a big reversal: Millennials had caught up on most indicators, and they surpassed earlier cohorts in wealth accumulation. (3) The main reason was a huge runup in housing wealth, which soared during COVID, but gains in financial wealth also boosted balance sheets. (4) It's not clear, however, what this good news means for retirement security, since house prices may reverse and few retirees tap their equity for consumption.

Title
Is the retirement picture for Millennials looking better?
Author
Chen, Anqui
Gok, Nilufer
Munnell, Alicia Haydock
School
Carroll School of Management
Discipline
Finance
Center
Center for Retirement Research
Genre
report
Date Issued
August 2024
Publisher
Center for Retirement Research at Boston College
Series Title
Issue in Brief
Series Number
24-18
Persistent Link
http://hdl.handle.net/2345/bc-ir:110149
Use Restrictions
These materials are made available for use in research, teaching and private study, pursuant to U.S. Copyright Law. The user must assume full responsibility for any use of the materials, including but not limited to, infringement of copyright and publication rights of reproduced materials. Any materials used for academic research or otherwise should be fully credited with the source. The publisher or original authors may retain copyright to the materials.
Subject
Financing Retirement

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