A recent study out of Urban Institute in Washington D.C. shows that the net worth of those under the age of 46 is lower than their parents at that age. Basically, it’s harder to earn some cash these days!
High student loan burdens, fewer jobs and shrinking home values all apply to the fact that Generations X and Y are poorer than their predecessors.
It’s the first time 30-somethings have been worse off than their parents’ generation since The Great Depression. As if it wasn’t depressing enough as it is!