If you’re a Millennial, chances are your net worth is in the negative. A new report by financial website The College Investor has listed Millennials’ estimated average net worth by age, showing positive estimates starting only at age 30. The site has pointed out that the average education debt has “almost doubled within the Millennial generation,” with the Class of 2003 had $18,271 in student loan debt on average, while Class of 2016 has $37,172. But the negative net worth for young people is the new norm, and other sources of debt (buying houses, starting families) also need to be taken into account. (CNNMoney)
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