Brief Lost Generations? Wealth Building among Young Americans
C. Eugene Steuerle, Signe-Mary McKernan, Caroline Ratcliffe, Sisi Zhang
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Despite the Great Recession and slow recovery, the American dream of working hard, saving more, and becoming wealthier than one's parents holds true for many. Unless you're under 40. Stagnant wages, diminishing job opportunities, and lost home values may be painting a vastly different future for Gen X and Gen Y. Today's political discussions often focus on preserving the wealth and benefits of older Americans and the baby boomers. Often lost in this debate is attention to younger generations whose wealth losses, or lack of long-term gains, have been even greater.
Research Areas Economic mobility and inequality Wealth and financial well-being Social safety net Taxes and budgets
Tags Asset and debts Welfare and safety net programs Individual taxes Income and wealth distribution Inequality and mobility Opportunity and ownership Financial stability