Gen X Biggest Losers in Net Worth
Posted On June 22, 2012
Recent Census and Federal Reserve figures created jaw-dropping headlines when they revealed that most Americans’ net worth is no greater than it was 20 years ago. While the headlines suggest stagnation, the numbers revealed that net worth did increase but then fell back to what it was in 1992.
During that decline, no generation lost more net worth than Generation X, by percentage. According to the Census Bureau, Generation X households lost close to 60% of their net worth between 2005 and 2010.
In terms of actual dollars, the biggest losers were the younger half of the Baby Boomers, sometimes called “Generation Jones,” which lost close to 55 thousand dollars, or about 38%, per household. Together, those generational groups, made up of those aged approximately 35-55, seem to have been particularly vulnerable to the effects of the Great Recession and its aftermath.