Olivia Rockeman and Catarina Saraiva, of Bloomberg Wealth, has recently made available their article that discusses why millennials are doing worse financially compared to the older generations. Her article, “Millennials Are Running Out of Time to Build Wealth,” begins as follows:
In almost every way measurable, millennials in the U.S. at 40 are doing worse financially than the generations that came before them.
Fewer millennials own homes than their parents did at their age. They have more debt — especially student debt. They simply aren’t as wealthy.
Now, if predictions of a long, post-Covid economic boom are to be believed, this may be the last opportunity an entire generation has to build wealth before heading off into retirement.
To view the full article, click here: “Millennials Are Running Out of Time to Build Wealth.”
Posted by Bella Hoang, Managing Associate Editor, Wealth Strategies Journal.