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Intergenerational differences in income and wealth: evidence from Britain

Journal article

How do average levels of income and wealth differ in Britain for those born between the 1930s and 1980s? The 1980s cohort are the first post-war generation not to have higher median incomes in their early 30s that those born a decade earlier, though they have much higher incomes than those born in the 1960s and earlier. Median wealth for the 1980s cohort is 20% lower in their early 30s than it was for those born in the 1970s: driven by lower property wealth and homeownership – 40% at age 30 for 1980s cohort, compared to 55% for the 1970s cohort.