10/1/2015 – Young Americans Are Giving Up on Getting Rich (Bloomberg)

Oct 01, 2015 Comments Off by

Young Americans’ incomes are depressed, their retirement nest eggs are microscopic, and their rate of employment is weak. The trend lines aren’t promising, either, which likely explains why there’s no shortage of pessimism out there. In a Bloomberg poll of Americans age 18 to 35—the millennial generation—47 percent said they do not expect their cohort to live better than their parents. For one thing, it’s hard to imagine outdoing your parents if you’re still sleeping under their roof. According to U.S. Census Bureau data, 15 percent of people age 25 to 34 were living with their parents last year, up from 10 percent 30 years earlier. High home prices and strict mortgage lending standards are prime reasons for many millennials’ failure to launch. 

Read the full article in Bloomberg.

Financial Landing 2015

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