Millennial wealth deficit, in one chart

washingtonpost.com

15 points·SQL2219··6 comments

I always calculate the income of my grandfather against mine using [1] calculator, he was earning about 3k per month when he was about ~30. That's about 9.5k per month in today's money, I'm earning about 3.8k per month.

So is more than double, it kind of match the graph, which I found interesting.

https://data.bls.gov/cgi-bin/cpicalc.pl

Maybe they just don't save or maybe they are not part of the 1%.

median income vs cost of living would be more interesting to me

Can't save if you can barely afford to live. Student debt, high COL housing, healthcare, etc. Boomers got a head start with great incomes (high quality of life on single earner income), cheap housing, cheap healthcare.

I just wanted to make the point that there might be a better graph.

all those things are a symptom of low regulation. Take a look at the regulations over the years and it is just staggering https://regulatorystudies.columbian.gwu.edu/reg-stats.

The less regulated fields have shown massive increase in quality and or massive decrease in pricing which makes up for the price inflations of the other sectors.

Boomers grew up in a generation of less regulated markets. Less regulated markets allowed for greater wealth creation. Easier to build wealth when there's more money to go around.

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