Journal of Financial Planning: December 2020
$68 trillion…Amount of assets that is projected to transfer from baby boomers to Gen-Xers and millennials over the next 25 years. (Cerulli)
5x…Projected amount of wealth millennials will hold in 2030 compared to their wealth levels in 2019. (Forbes)
$8,000…Average
net worth of millennials. (Business Insider)
81…Percentage of early-adult households that carry a collective debt of nearly $2 trillion.
(Merrill Lynch Wealth Management)
$34.2 trillion…Combined net worth of the top 1 percent of Americans. (U.S. Federal Reserve)
$2.1 trillion…Combined net worth of the bottom 50 percent of the American population.
(U.S. Federal Reserve)
88…Percentage of all available equity in corporations and mutual fund shares held by the wealthiest 10 percent of Americans. (U.S. Federal Reserve)
85…Percentage of wealth in the U.S. held
by White Americans.
(U.S. Federal Reserve)
4…Projected percentage growth for personal financial advisers from 2019 to 2029. (Bureau of Labor Statistics)
No. 6…Ranking position for financial advisers in the ‘Best Business Jobs.’ (U.S. News and World Report)
$88,890…Median salary for financial advisers. (U.S. News and World Report)
19,100…Number of jobs available for financial advisers. (U.S. News and World Report)
91…Percentage of the gender pay gap in financial planning that can be explained by factors such as revenue, time spent, and preference for variable versus stable salary or income. (Kitces.com)
24…Percentage of financial planners who own their own investment businesses. (Bureau of Labor Statistics)