At a Glance | August 1, 2019 Financial Status Snapshots: T hree Age Cohorts, Three Time Periods RECENT FINANCIAL COMPARISON Incidence of Homeownership, Retirement Plans, and Debt in 2016 By Age of Family Head Families are progressively more likely to own a home or have a STATUS IN 2016 INCIDENCE OUT OF 10 AGE OF FAMILY HEAD retirement plan as they age. Own a Home Ages 52–64 7.5 However, in 2016, the middle Ages 40–51 6.5 age cohort — ages 40–51 — was Ages Less Than 40 4 more likely to carry debt than the older or younger cohorts. Have a Retirement Plan 7.0 6.5 5 Carry Debt 8 8.5 8 FAMILY WEALTH Median Family Net Worth In 2016 Dollars Families have become poorer across age groups: the median AGE OF FAMILY HEAD YEAR NET WORTH net worth of families was less in 2016 $175.9k Ages 52–64 2016 than it was for the same 2004 $281.1k age groups in 2004. 1992 $188.9k 2016 $103.1k Ages 40–51 2004 $151.9k 1992 $108.4k 2016 $16.5k Ages Less Than 40 2004 $26.2k 1992 $23.6k ASSETS AND LIABILITIES Median Family Debt-to-Asset Ratio Debt has grown across AGE OF FAMILY HEAD YEAR DEBT-TO-ASSET RATIO age groups: the median 2016 0.14 Ages 52–64 debt-to-asset ratios across each 2004 0.12 cohort were worse (values 1992 0.08 higher) in 2016 vs. those of the same age groups in 2004 and 2016 0.34 Ages 40–51 1992. 2004 0.30 1992 0.22 2016 0.52 Ages Less Than 40 2004 0.46 1992 0.37 SOURCE: EBRI Issue Brief, Comparing the Financial Status of Generation X Families, June 27, 2019, No. 485. SOURCE: Craig Copeland. “Comparing the Financial Status of Generation X Families,” EBRI Issue Brief, no. 485 (Employee Benefit Research Institute, June 27, 2019). © 2019 EBRI This report is copyrighted by the Employee Benefit Research Institute (EBRI). You may copy, print, or download this report solely for personal and noncommercial use, provided that all hard copies retain any and all copyright and other applicable notices contained therein, and you may cite or quote small portions of the report provided that you do so verbatim and with proper citation. Any use beyond the scope of the foregoing requires EBRI’s prior express permission. For permissions, please contact EBRI at permissions@ebri.org.