Millennials' Total Net Worth Has Nearly Quadrupled Since Covid — What's Driving That Growth?

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RegExp("[?&]notifications=1(&|#|$)");"desktop"===y&&i&&b.test(window.location.search)&&(i.checked=!0)};ge("ybar-mod-notification",(function(e){var t={isUH3:"crunch"===e.getConfig().ytheme,notifContainer:document.getElementById("notification-container"),notifBadge:document.getElementById("notif-badge"),notifMenu:document.getElementById("ybarNotificationMenu"),notifMenuOpener:document.querySelector("#ybarNotificationMenu + label"),notifDropdown:document.getElementById("notifDropdownContainer"),tooltipContainer:document.querySelector(".".concat($n)),notifLabel:document.querySelector(".".concat(Xn))};t.notifDropdown&&so(e,t)}))}()}};]]>Jamela AdamThu, November 13, 2025 at 2:01 AM GMT+1 3 min readMillennials might have entered the pandemic worried about their finances, but five years later, their wallets are thriving more than ever. According to Federal Reserve data, millennials' total net worth has nearly quadrupled since 2019, growing from $3.94 trillion in Q3 2019 to $15.95 trillion in Q3 2024. They've not only weathered the post-pandemic years but have also accumulated wealth faster than older generations.Here's what changed during the last five years.Don't Miss:Fast Company Calls It a ‘Groundbreaking Step for the Creator Economy' — Investors Can Still Get In at $0.81/Share Buffett's Secret to Wealth? Private Real Estate—Get Institutional Access YourselfWhen the pandemic hit, millennials found themselves with something they hadn't had before, time and stimulus money. Many of them redirected that cash toward investing.According to financial services company Wealthfront's analysis, the proportion of its millennial clients who are millionaires increased by 144% over the last five years. Meanwhile, the proportion of Wealthfront millionaires among Gen Xers only increased by 31% over the same time period, and decreased among baby boomers.Wealthfront's data shows that their millennial clients have put time-tested investment strategies into practice even more than other generations. Even as COVID disrupted financial markets in March 2020, millennials maintained more stable monthly deposits than older generations. That, combined with a long-term investing mindset, allowed them to capture significant market appreciation.Trending: Bill Gates Invests Billions in Green Tech — This Tree-Free Material Could Be the Next Big BreakthroughAnother major factor fueling millennial wealth growth has been real estate. As home prices skyrocketed between 2020 and 2024, millennial homeowners saw their equity balloon, contributing roughly $2.5 trillion to the generation's net worth, according to Wealthfront. Even though rising mortgage rates made homebuying tougher in recent years, those who purchased earlier in the pandemic have benefited enormously from appreciation.Millennials' retirement savings have also gone up quite a bit. Their IRA balances rose by more than 110% since March 2020, more than double the growth in IRA balances held by Gen X, according to Wealthfront.See Also: Wall Street's $12B Real Estate Manager Is Opening Its Doors to Individual Investors — Without the Crowdfunding MiddlemenThe millennial wealth boom didn't happen overnight, and it wasn't luck. It came from consistency and a willingness to invest even during uncertain times. If you want to achieve the same financial success, start by automating your savings and contributions so you're building wealth without thinking about it.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P Futures6,696.25 -63.75 (-0.94%)Dow Futures47,281.00 -266.00 (-0.56%)Nasdaq Futures24,723.00 -371.75 (-1.48%)Russell 2000 Futures2,363.00 -27.00 (-1.13%)VIX22.45 +2.45 (+12.20%)Gold4,119.90 -74.60 (-1.78%)PortfolioSign in to access your portfolioSign inTop gainersCLBT Cellebrite DI Ltd. 19.28 +3.31 (+20.73%)ONDS Ondas Holdings Inc. 6.56 +1.05 (+19.06%)FLY Firefly Aerospace Inc. 21.42 +3.11 (+16.99%)SEE Sealed Air Corporation 42.50 +6.12 (+16.82%)TTEK Tetra Tech, Inc. 37.41 +4.96 (+15.29%)Top losersBTDR Bitdeer Technologies Group 11.11 -2.83 (-20.30%)FRMI Fermi Inc. 17.50 -4.26 (-19.58%)BE Bloom Energy Corporation 103.55 -23.17 (-18.28%)FLNC Fluence Energy, Inc. 16.25 -2.96 (-15.41%)VIA Via Transportation, Inc. 43.14 -7.36 (-14.57%)Most activeONDS Ondas Holdings Inc. 6.56 +1.05 (+19.06%)OPEN Opendoor Technologies Inc. 8.56 -0.81 (-8.64%)NVDA NVIDIA Corporation 186.86 -6.94 (-3.58%)SOFI SoFi Technologies, Inc. 28.39 -3.82 (-11.86%)PLUG Plug Power Inc. 2.4900 -0.2400 (-8.79%)Earnings eventsMy earnings eventsEarnings eventsTrending tickersBTC-USD Bitcoin USD 95,297.54 -7,846.40 (-7.61%)TSLA Tesla, Inc. 401.99 -28.61 (-6.64%)MSTR Strategy Inc 208.54 -16.07 (-7.15%)ETH-USD Ethereum USD 3,125.90 -375.70 (-10.73%)COIN Coinbase Global, Inc. 283.14 -20.86 (-6.86%)Top economic events