American millennials are approaching middle age in worse financial shape than every living generation ahead of them, lagging behind baby boomers and Generation X despite a decade of economic growth and falling unemployment. New data show that millennials may never catch up with the generations of Americans that came before them. The Fed analyzed income, debt, asset, and consumption data and found that millennial households had an average NET WORTH nearly 40% less than Gen X households had in 2001, and about 20% less than baby boomer households had in 1989. At the same ages, Gen X men working full time earned 18% more than their millennial counterparts do now, and BABY BOOMER men earned 27% more when adjusting for inflation, age, and other variables. How could this affect YOUR retirement? Stocks may not keep their values due to weakening demand and the Social Security system may deplete faster than we thought. Today, we’ll review the Wall Street Journal report. That and much more..don’t miss it!…MASTERING MONEY is on the air!!!
Mastering Money 2/14/20
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About IQ Wealth®
At IQ Wealth, we believe smarter planning is the key to a more trouble-free retirement. Our unique process, Smarter Bucketing™ helps our clients simplify and clarify their finances. Bucket planning is a common-sense system of allocating money according to its purpose. When each dollar in your portfolio has a job to do—and a timeline for getting it done—your financial plan is more clear and realistic.
Today’s crazy markets are leaving many folks wondering where and how to allocate their money. Rather than placing faith in the whims of the market, the IQ Wealth approach is clearly defined and systematic. Our fee-only approach to equity management means that when YOU do better, we do better. Your best interests always come first at IQ Wealth–no exceptions, no excuses. Learn how our systematic approach to high quality dividend growth and technology stocks alongside guaranteed fixed income solutions may contribute to your future success. It's opportunity time. Let’s get to work!
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