High Earning Millennials and Genz Feel Broke. The Economy They Inherited May Explain Why.

High-earning Millennials and Gen Z aren’t “broke” in the traditional sense—they’re just not experiencing the level of financial progress that their income would have suggested in earlier generations. While earnings are higher compared to previous cohorts, ownership hasn’t scaled in the same way. Housing, equities, and other major wealth-building assets have increased faster than wages, which has gradually weakened the connection between income and long-term wealth. As a result, income today often doesn’t function as a direct pathway to financial progress, but more as a way to maintain position in an economy where asset prices move faster than earnings.

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