The Emerging Millennial Wealth Gap

Just as Millennials approach their prime work and family-forming years, poor finances are complicating how they assemble the building blocks of success. Stagnant incomes, rising debts, and a broadly weakened financial profile have contributed to creating a new story line: Millennials are accumulating less wealth than their generational predecessors and appear unlikely to replicate the economic trajectory of their parents and grandparents.

Despite its dramatic emergence and real world consequences, the Millennial wealth gap has received scant attention to date. This event marks the release of a new book to address that. Chapter authors will be featured and present highlights of their work examining the data, identifying trends, and exploring the underlying dynamics of the generational distribution of wealth in America today. This collection of essays provides a foundation to advance a set of large-scale policy interventions capable of responding to the economic vulnerability of the Millennial generation and create new pathways to progress.

Join us for an extended discussion of generational wealth and financial health, components of the Millennial balance sheet, and implications for social policy.

A light breakfast will be provided.

Speakers:

Reid Cramer
Director, The Millennials Initiative, New America

Signe-Mary McKernan
Vice President and Director, Opportunity and Ownership Initiative, Urban Institute

Ray Boshara
Senior Advisor and Director, Center for Household Financial Stability at the St. Louis Federal Reserve Bank

Jung Choi
Research Associate, Housing Finance Policy Center, Urban Institute

Brent J. Cohen
Executive Director, Generation Progress

Liz Hipple
Senior Policy Advisor, Washington Center for Equitable Growth

Julie Hodgson
Program Officer, Citi Foundation

Ana H. Kent
Policy Analyst, Center for Household Financial Stability at the St. Louis Federal Reserve Bank

Genevieve Melford
Director of Insights and Evidence, Financial Security Program, Aspen Institute

Sophie Nguyen
Program Associate, Higher Education Initiative, New America

Wesley Whistle
Senior Advisor for Policy and Strategy, Education Policy Program, New America