Millennials vs. Baby Boomers at Age 40 - Who is Doing Better?
Be Wealthy & Smart
Linda P. Jones
4.8 • 883 Ratings
🗓️ 23 April 2021
⏱️ 18 minutes
🧾️ Download transcript
Summary
Learn how Millennials are closing the wealth gap with Baby Boomers.
The article is here.
Are you investing well for financial freedom...or not?
Financial freedom is a combination of money, compounding and time (my McT Formula). How well you invest, makes a huge difference to your financial future and lifestyle.
If you only knew where to invest for the long-term, what a difference it would make, because the difference between investing $100k and earning 2% or 10% on your money over 30 years, is the difference between it growing to $181,136 or $1,744,940, an increase of over $1.5 million dollars.
Your compounding rate, and how well you invest, matters!
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Transcript
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| 0:00.0 | Be wealthy and smart episode 869. If y'all know what I mean put your hands up and declare with me |
| 0:13.8 | Yeah, I'm full of bed e'e'e I'm gonna live a good life |
| 0:20.8 | A beautiful and glorious life Step into a world of wealth and financial freedom without budgets, boredom or bosses on be wealthy and |
| 0:30.3 | bosses on be wealthy and Smart. And now here's your host, Linda P. Jones. |
| 0:37.0 | Welcome to Be Wealthy and Smart. I'm Linda P. Jones, America's Wealth Mentor, |
| 0:42.2 | Empowering Women and Men Worldwide to Financial Freedom. |
| 0:45.5 | On today's show, we're going to talk about millennials versus baby boomers, and who was doing better |
| 0:52.0 | at age 40? Are millennials doing better at age 40? |
| 0:53.5 | Are millennials doing better than baby boomers? |
| 0:57.0 | Or did baby boomers do better at 40 than millennials are? |
| 1:01.6 | So this article comes to us from |
| 1:03.4 | cnbee.com it was written by Megan Leenhart and it says older |
| 1:08.6 | millennials don't have as |
| 1:13.0 | much wealth as their parents did at the same age, but they're catching up. |
| 1:14.4 | The article says, as millennials begin to turn 40 in 2021, |
| 1:19.2 | CMBC has launched middle-aged millennials, |
| 1:22.4 | a series explaining how the oldest members of this |
| 1:25.0 | generation have grown into adulthood amid the backdrop of the Great Recession and the |
| 1:30.0 | COVID-19 pandemic, student loans, stagnant wages, and rising costs of living. |
| 1:36.9 | Five years ago, older millennials were 40% poorer than previous generations were at the same stage of life. |
| 1:44.7 | That wealth gap has shrunk in recent years, but it's still too soon to tell if obstacles |
| 1:50.0 | such as student loan debt burdens, rising living expenses, and the effects of the COVID |
... |
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