Credit Suisse’s Global Wealth Report says that Millennials deserve some sympathy. The generation is worse off financially than Baby Boomers were at their age, and the report shows that external factors have dealt young Americans a bad hand. Greater wealth disparity paired with “rising student debt” and housing prices means Millennials didn’t have the chance to build their assets and now face “particularly challenging circumstances.” Credit Suisse sums up that, “On the whole, they are not what one would call a lucky generation.” So it’s really not the avocado toast purchases holding them back. (Bloomberg)
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