According to a new report by the Federal Reserve Bank of St. Louis, someone born in the 1980s is, on average, 34 percent below the level of predicted wealth accumulation based on the experience of earlier generations at the same age. One of the main reasons for 80s babies being so far behind when it comes to accumulating wealth has to do with their ages during The Great Recession of 2008-2009.
While almost everyone suffered some kind of financial setback during that time, older generations had more of their debt tied into the housing and real estate market, which has since recovered, while those born in the 1980s are less likely to own homes, and therefore less likely to have recovered any lost financial value.