Millennials are entering middle age worse off financially than any generation before them. Federal Reserve economists found that Millennial households have a lower net worth and lesser full-time earnings than Gen X or Baby Boomers did at their age (when adjusted for inflation)—not to mention unmanageable amounts of debt. Having entered the workforce during the Recession, they’re less prepared for retirement and are having so few kids that they can’t count on the next generation to fund their Social Security. (WSJ)
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