Are 20-Somethings Rich? This Study Says "Yes!"

posted by Amy James - 

First, let me say that these findings are polar opposite of how I spent my 20s. I had no money. At my poorest point (funny enough, I look back on it now as good times and character building) I was living in a 2 bedroom apartment with 6 people and a 7th who didn't pay rent just passed out on the couch every night. Those were the days...

Anyway, 20-somethings being rich. Here 's what the study from Wealth & Affluent Monitor found...

20-somethings make up 13 percent of the “wealth and affluent market,’ which means young people in their 20s have $100,000 in investible assets. The catch? This wealth has been acquired by putting off moving out of their parents’ homes and saving what they’d normally spend on rent each month.

Greg McBride, chief financial analyst at Bankrate, says, “Millennials have a greater inclination toward saving, for both emergencies and retirement, than we’ve seen from previous generations.”

Source: NYPost

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Amy James

Amy James

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