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Millennials’ average net worth doubled during pandemic, report finds

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Covid-19 relief and record-low interest rates boosted many Americans’ finances during the pandemic. That has been especially true for millennials, who have on average built significant wealth.

Millennials, born between 1981 and 1996, have more than doubled their total net worth, reaching $9.38 trillion in the first quarter of 2022, up from $4.55 trillion two years prior, according to a MagnifyMoney report.

And millennials’ average net worth — defined as total assets minus total liabilities — also increased twofold during the same period, jumping to $127,793 from $62,758, the report found.

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Source cnbc.com

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