28- to 34-year-olds are actually the wealthiest such generation in Canadian history says a new analysis from the federal Finance Department.
“The current generation of young Canadians is, on average, wealthier than previous generations of young Canadians,” says the confidential report, though with some cautionary notes.
“Young Canadians … born in the first half of the 1980s had an average net worth of close to $93,000 per adult. In contrast, previous generations of young Canadians had an average net worth of about $60,000 per adult — 35 per cent less once adjusted for inflation.
“The report says burgeoning real-estate is not by itself driving the increase in wealth. Canada’s younger generations are saving just as much or more than their parents did.
Chosen excerpts by Job Market Monitor. Read the whole story at Current generation of young Canadians wealthiest ever: federal study – Politics – CBC News