Not all millennials are struggling. They graduated into the worst recession since the Great Depression, but a select few have been successful enough to put the cohort within reach of passing Generation X in terms of household wealth, according to a new study on wealth and inequality.
The annual Wealth & Affluent Monitor, published by Phoenix Marketing International, estimates that millennials now comprise 13% of what they call the wealthy and affluent market, defined as households with at least $100,000 in investible assets. That group holds 91% of the total investible assets in the U.S.
Gen-X—the smaller generation between Baby Boomers and millennials—makes up 17% of this market, and is increasingly faced with the financial challenges of aging parents and education costs for their children, Phoenix says. READ MORE: http://time.com/money/4676327/millennial-wealth-study/