Posted on 01/02/2015 5:45:24 PM PST by SeekAndFind
Much has been made about the shaky financial footing of Millennials. And it’s true; young adults today have high rates of unemployment and student-loan debt, which can keep them in a holding pattern when it comes to starting their adult lives.
But a recent study by the St. Louis Fed took a look at Millennials who had managed to take the first step in creating independent households—getting a job and finding their own place—in order to see how the financial health of young Americans today stacks up to that of previous generations.
"Financial well-being early in life... has important implications for lifetime wealth accumulation; recent evidence suggests that today’s young adults may have accumulated less wealth than their parents had at the same age. However, because they are still in the beginning of the life cycle, today’s young adults may be better equipped to weather economic upheaval than older generations, especially in the long run," the study found.
The research looked at adults aged 18 to 34 and compared their finances in a variety of categories, like overall net worth, total debt, and assets, to young adults of the same age as far back as 1989, when Generation X was just entering adulthood. The study found that though their overall net worth was less, many employed Millennials weren’t doing that much worse when compared to their predecessors.
(Excerpt) Read more at theatlantic.com ...
Millenials and their children will be the ones who have to pay off everyone’s share of the national debt ($18,000,000,000,000.00).
They are up sheet creek.
The Left wants caps on salaries and medical expenses.
How about caps on tuition?
“How about caps on tuition?”
Yep. Without question this should be part of the Republican response.
Did you notice the generalizations in the post I was responding to?
You didn’t disagree with me. I never said “most” i said many, and then you go on to make the same point I did.
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