Millennials in the U.S. have experienced dramatic wealth growth, now valued at $15.95 trillion, quadrupling since 2019. Despite an average net worth of $333,096 and a wealth increase of 13.7% in 2024, many still feel financially constrained, a phenomenon termed 'phantom wealth.' Their net worth primarily stems from real estate, stocks, and parental financial support. Home equity has been a crucial factor, with millennials who invested in homes during the pandemic seeing significant appreciation. Additionally, millennials are contributing more to retirement funds, while also receiving financial help to manage high living expenses and debts.
Millennials have seen a remarkable growth in wealth, with their net worth increasing significantly as they face high costs of living that affect their perceived wealth.
Significant drivers of millennial wealth include real estate, increased retirement contributions, and financial assistance from parents, challenging the notion of their financial well-being.
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