I make good money, but I am part of the first generation, Gen X, that will have a lower standard of living than the previous generation.
"Between 1974 and 2004, white and black men in their 30s experienced a decline in income, with the largest decline among black men," Issacs writes. Families beat their parents largely because more households had two breadwinners and because of gains in women's incomes.
My wife doesn't work so it's harder for me to support my family on one income than it was for my dad or the baby boomers.
The real wage has been stagnant or fallen for the past 30 years for men in their 30s. That will continue as the boomers hold onto the high paying jobs into their 70s.