The Pandemic Has Been the Best Thing That Ever Happened for Many Americans
Generation X, the oft-overlooked demographic group squeezed between the Baby Boomers and Millennials, has experienced a wealth boom in the U.S. since Covid-19 was declared a national emergency…..
As of June this year, Generation X held 28.6% of the nation’s wealth, up 3.9 percentage points from the first quarter of 2020, according to Fed data. In dollar value, that translates into a 50% gain in their aggregate net worth — the difference between a household’s assets and debts….
In five quarters, equity assets owned by Gen X households more than doubled to $10.5 trillion, according to the Fed data. That amount is now more than 10 times the stock holdings of Millennials — yet only about half Boomers’ equity holdings.