Neil Howe (LifeCourse Associates and Saeculum Research) was the keynote speaker at a Federal Reserve conference on the balance sheets of younger Americans. Awareness and discussion of this topic is critical to shape more effective social policies in a rising wealth inequality and stagnant growth environment. Many older groups find it hard to relate to the current economy because their wealth was grown in a prosperous economy – 80% of life is just showing up. Unfortunately, younger cohorts face a vastly different experience.
For more perspective on the intergenerational disparity, check out FRB St. Louis AVP Emmons presentation on Gen X and Y’s financial challenges in the shadow of the baby boom.