Intergenerational differences in income and wealth: evidence from Britain

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.