Millennials have experienced a dramatic increase in net worth, with figures soaring from $3.94 trillion to $15.95 trillion since 2019, largely due to the appreciation in real estate and stock market gains. However, much of this wealth is tied up in illiquid assets, causing a feeling of phantom wealth. Millennial perspectives, like those of business owner Forrest Webber, reveal challenges of financial insecurity, high inflation, and the overwhelming burden of major purchases, as everyday essentials increasingly feel out of reach.
Despite their wealth nearly quadrupling since 2019, rising from $3.94 trillion to $15.95 trillion, much of this is tied up in illiquid assets like real estate, leaving millennials feeling financially stretched.
Especially when it comes to a 401(k). They make you feel secure until a financial event comes up, and you realize it's not actually yours yet!
With inflation, it can feel like the essentials are getting more and more out of reach every week.
I've found that going to your local farmers market is a great way to combat rising grocery costs.
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