The mission of the Asset Building Program is to significantly broaden access to economic resources through increased savings and asset ownership, thereby providing families with enhanced economic security, a direct stake in the commonwealth, and the means to pursue their aspirations.

the post-ownership society

Asset Building

How the “sharing economy” allows Millennials to cope with downward mobility, and also makes them poorer.

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in the news | June 08, 2015 | Asset Building

wealth and generations

Yet the flip side of the “sharing” economy is the “gig” economy, in which more and more of us, and particularly the young, are no longer employees but, rather, contingent workers who become responsible for buying and maintaining tools, equipment, and places of business, as well as securing health and retirement benefits, that, in previous eras, were furnished by employers. The Uber driver, for example, has responsibility for purchasing and maintaining the car he uses to work for the “ride-sharing” company, just as the contract white-collar worker must often finance and maintain her own office space, IT systems, career training, and other hard and soft assets necessary for her work. Both are also on their own when it comes to traditional employee benefits, and because they cannot count on a regular paycheck, they have an extra need for building savings to cover the increased volatility in their earnings. Though difficult to measure, the increasing uncertainty and contingency that surrounds today’s employment has to be counted as a net negative for most workers’ standard of living.

policy paper | June 04, 2015 | Asset Building


This report compares financial capability, financial inclusion, and financial education to financial exclusion. The categories were also compared to one another, for example, asking whether significant relationships emerged or were stronger when Millennials were financially capable as compared to financially educated or included. Indeed, as the findings throughout this report will reflect, financially capable Millennials also had significantly better metrics of financial health when compared to their financially included, educated, and excluded counterparts.