Millennials, the oft-maligned generation, are a lot better off financially than you might realize. A new report found millennials saw their wealth double from the end of 2019 through 2023, writes BI’s Juliana Kaplan.

It’s an incredible turnaround for a generation constantly beaten down for making what some deemed to be financially frivolous decisions. Turns out that enjoying the occasional overpriced brunch while writing Harry Potter fanfiction didn’t ultimately lead to personal bankruptcy.

Disclaimer: Yes, I am a millennial. Yes, my feelings are still hurt from all your mean tweets.

Perhaps you’re unimpressed. Millennials were between the ages of 23 and 38 in 2019, prime earning years. But their wealth grew much faster than how boomers and Gen Xers fared at that age.

Millennials had a few things break their way, though.

First, a strong post-pandemic job market allowed them to amp up their earning power. It also came at the perfect time. Unlike many of their elder colleagues eyeing retirement or with families to consider, millennials were free to job-hop to higher salaries amid the Great Resignation.

But millennials also put that money to work. The market downturn from Covid presented an opportunity for millennials to buy into blue-chip companies at bargain prices.

And thanks to the rise of no-fee trading, they could do it more cost-effectively than previous generations.