Most millennials think they're going to be rich, but they're actually worth far less than baby boomers and Gen Xers at the same age

Edward Berthelot/Getty Images

• 66% of millennials think they'll be wealthy one day — more than any other generation, a new MagnifyMoney survey found.
• Yet, millennials are financially behind other generations at their age.
• They have an average net worth of less than $8,000 and have only seen a $29 income increase when adjusted for inflation, according to new studies.
• Visit Business Insider's homepage for more stories.

Millennials are optimistic about their financial future — perhaps overly so.

Sixty-six percent of millennials think they'll become wealthy one day, according to a new survey by MagnifyMoney. The survey polled 1,029 Americans of all generations.See the rest of the story at Business Insider

NOW WATCH: What El Chapo is really like, according to the wife of one his closest henchman

See Also:

• The top 10 countries with the most ultra-wealthy people, ranked
• Justin Bieber and Hailey Baldwin are tying the knot for a second time — and they're just one of many younger couples dropping serious cash on multiple wedding ceremonies and breaking marriage traditions
• More millennials are ditching big US cities for the suburbs, and it shows just how dire the unaffordable housing crisis is

SEE ALSO: The wealth gap between generations in the US has nearly doubled in the past 20 years — and the Great Recession, an unaffordable housing market, and astronomic student-loan debt are to blame

DON'T MISS: Brokest, loneliest, and richest: Here's how the world sees American millennials in 2019