• xyzzy@lemm.ee
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    1 year ago

    Wow, it took around 15 years to financially recover from the Great Recession for everyone younger than retirement age.

  • sugar_in_your_teaM
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    1 year ago

    Wow, those are disappointing medians. If you just max your IRA (no 401k, no match), stay out of debt, and don’t sell, you should beat most of those medians by 45 or so if you start at 25, assuming 6% real returns.

    • AlDente
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      1 year ago

      I don’t believe so. Home ownership rate would be hard to deduce from net worth because the majority of homes aren’t paid off at a younger age. Therefore, whether you have a home or not would be a net wash. However, there are also plots for primary residence value and mortgage debt in the link along with many other interesting data sets.

  • DavidGarcia@feddit.nl
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    1 year ago

    I wonder why the oldest demographics were so insulated from 2008. Maybe they were less likely to live in areas with a housing bubble? Not living in McMansion city and all that.

  • uis@lemmy.world
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    1 year ago

    What’s wrong with 55-64 generation? Where did they get all that money?

    • MajorHavoc@lemmy.world
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      1 year ago

      For all of the 50+ having the most, in general, we may just be seeing the baseline principle that time-in-the-market beats other effects.

      For why they have more than their 60s and 70s counterparts, I can only guess.

      My guess is the 55-64 generation has less conservative investments than their 60s and 70s counterparts, so they raise higher on a strong market, and fall further in a weak market.