That seems like an obvious observation?
People accumulate wealth over a life time of work. It would be entirely expect that younger generations have less wealth than older generations.
People accumulate wealth over a life time of work. It would be entirely expect that younger generations have less wealth than older generations.
This tracks with broad trends of wealth inequality increasing as well.
So no, it's not just "they haven't accumulated yet", because it's not clear they will have the opportunity to do so.
You are right in a sense. But it's still a very bad prognosis.
Source? The data I’ve seen indicate the median millennial is wealthier than the median boomer was at their age.
Boomers held significantly higher percentages of capital than millenials or genx holding age steady.
https://www.nber.org/papers/w27123
Studies have shown wealth declining for millenials while increasing for boomers.
https://www.self.inc/info/generational-wealth-gap/
And it's across multiple forms of wealth.