Baby boomers' wealth is 12 times greater compared to millennials. Here's why
August 08, 2019 at 13:45 PM EDT
The net worth gap between older and younger Americans has grown into a chasm. While the average older household had about seven times the net worth of younger households in 1998, they now have about 12 times the net worth, according to a MagnifyMoney analysis of Federal Reserve data.