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A new analysis from Liberty Street Economics finds younger Americans saw their net worths swell. That might be because their new pandemic stimulus let them invest more. Coming into the pandemic, Americans under 40 were holding just under 6% of all US wealth, according to Liberty Street Economics, even as they made up just under 40% of adults. And it was a boon: Americans under 40 — who comprise both Gen Zers old enough to be in the full-time workforce, and almost all millennials — saw their real wealth skyrocket by around 80%. AdvertisementThose younger Americans were willing to make riskier investments, as the analysis notes, perhaps due to just how far out they are from retiring.
Persons: , That's, Xers, Gen Zers, Rajashri Chakrabarti, Natalia Emanuel, Ben Lahey, Gen Z Organizations: Liberty Street Economics, Service, Liberty Street, Federal Reserve Bank of New Locations: Federal Reserve Bank of New York,
For young workers, not being in an office can mean they don't get as much feedback from colleagues. The pushback against remote work comes as more CEOs have been calling workers back to the office. But workers — especially those taking care of kids or others — grew accustomed to the flexibility that remote work can afford. Despite the risks, many of those potentially in danger of missing out on professional growth are most in favor of remote work, according to surveys, the Times noted. And some companies that have embraced remote work report success.
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