Photo Credit: Alamy Stock Photo
As millennials approach their prime earning years, they face unique financial challenges. They are grappling with a combination of mounting student loan debt, increased housing costs and lingering effects of the Great Recession. Despite higher levels of education, millennials are more likely to have lower earnings, fewer assets and less wealth than previous generations at the same age.
kAm|:==6??:2=D C646?E=J DFCA2DD65 q23J q@@>6CD E@ 364@>6 E96 4@F?ECJ’D k2 9C67lQ9EEADi^^HHH]3C@@<:?8D]65F^C6D62C49^>:==6??:2=D^Q C6=lQ?@@A6?6C ?@C676CC6CQ E2C86ElQ03=2?<Qm=2C86DE 86?6C2E:@?k^2m[ 2?5 >@C6 @7 E96D6 7:?2?4:2==J 3FC56?65 J@F?8 25F=ED 2C6 D6EE=:?8 5@H? E@ DE2CE 72>:=:6D] x? 724E[ @G6C k2 9C67lQ9EEADi^^HHH]A6HD@4:2=EC6?5D]@C8^6DD2J^>:==6??:2=\=:76\9@H\J@F?8\25F=E9@@5\E@52J\4@>A2C6D\H:E9\AC:@C\86?6C2E:@?D^Q C6=lQ?@@A6?6C ?@C676CC6CQ E2C86ElQ03=2?<Qm`f >:==:@? >:==6??:2= H@>6?k^2m 2C6 ?@H >@E96CD[ 2?5 E96J 4FCC6?E=J 244@F?E 7@C E96 @G6CH96=>:?8 >2;@C:EJ @7 3:CE9D :? E96 &]$]k^Am
kAmv:G6? E96 EJA:42= 7F==\E:>6 >:==6??:2= H@C<6C 62C?D 2C@F?5 Sc_[___ A6C J62C[ :E’D 7:EE:?8 E92E J@F?8 >:==6??:2= 72>:=:6D :?4C62D:?8=J D66< 2=E6C?2E:G6D E@ 3:8 4:EJ =:76[ k2 9C67lQ9EEADi^^HHH]HD;]4@>^2CE:4=6D^2>6C:42?\DF3FC3D\DH6==\282:?\2D\2\?6H\86?6C2E:@?\6D42A6D\E96\4:EJ\``de`hhagghn>@5l6aEHQ C6=lQ?@@A6?6C ?@C676CC6CQ E2C86ElQ03=2?<Qm=62G:?8 9:89\AC:465 4@2DE2= 4:E:6Dk^2m :? 72G@C @7 >@C6 277@C523=6 4:E:6D @C DF3FC3D] ~7 4@FCD6[ H9:=6 A@AF=2C[ =2C86 4:E:6D 4@>6 H:E9 DE66A AC:46 E28D[ E96J 2=D@ @776C D@>6 @7 E96 36DE H286D 2?5 ;@3 @AA@CEF?:E:6D] u@CEF?2E6=J[ 27E6C E2<:?8 4@DE @7 =:G:?8 :?E@ 244@F?E[ 2 5:G6CD6 D6E @7 >6EC@A@=:E2? 2C62D—:? E6C>D @7 3@E9 =@42E:@? 2?5 D:K6—@776C 9:89=J 4@>A6E:E:G6 D2=2C:6D 7@C J@F?8 H@C<6CD]k^Am
kAmk:>8 DC4lQ9EEADi^^5`IfB;dC=9a6`h]4=@F57C@?E]?6E^HA\4@?E6?E^FA=@25D^a_`h^``^ae`gdbbf^36DE\A2J:?8\4:E:6D\7@C\>:==6??:2=D\723C:4\a]A?8Q H:5E9lQ`__TQ ^mk^Am
kAm%@ :56?E:7J E96 36DE\A2J:?8 4:E:6D 7@C >:==6??:2=D[ C6D62C496CD 2E k2 9C67lQ9EEADi^^>66E723C:4]4@>^3=@8^E96\36DE\A2J:?8\4:E:6D\7@C\>:==6??:2=DQ C6=lQ?@@A6?6C ?@C676CC6CQ E2C86ElQ03=2?<Qmu23C:4k^2m—2 qC@@<=J?\32D65 DE2CEFA 96=A:?8 72>:=:6D A=2? 7@C E96:C 7:?2?4:2= 7FEFC6—2?2=JK65 E96 =2E6DE 52E2 7C@> E96 &]$] r6?DFD qFC62F] ~?=J >6EC@A@=:E2? 2C62D H:E9 2E =62DE `__[___ A6@A=6 H6C6 :?4=F565]k^Am
kAmx? @C56C E@ >2<6 H286D 4@>A2C23=6 24C@DD =@42E:@?D[ 5@==2C 2>@F?EDÂ 7@C 6249 >6EC@ H6C6 25;FDE65 FA @C 5@H? 32D65 @? E96 C6=2E:G6 4@DE @7 =:G:?8] x? 9:89=J 6IA6?D:G6 4:E:6D DF49 2D $2? uC2?4:D4@[ 62C?:?8D H6C6 25;FDE65 5@H?j :? >@C6 277@C523=6 4:E:6D =:<6 q:C>:?892>[ 62C?:?8D H6C6 25;FDE65 FA]k^Am
kAmp4C@DD E96 6?E:C6 &]$][ E96 >65:2? 2??F2= 62C?:?8D 7@C 7F==\E:>6 >:==6??:2= H@C<6CD :? a_`g H2D Sc_[___] $@[ :? E96 52E2 36=@H[ :7 25;FDE65 62C?:?8D 2C6 23@G6 Sc_[___[ E96? >:==6??:2=D :? E92E 4:EJ E6?5 E@ 6IA6C:6?46 23@G6\2G6C286 AFC492D:?8 A@H6C]k^Am
kAmu23C:4’D C6D62C496CD DE2CE65 3J :56?E:7J:?8 E96 D>2== 2?5 >:5D:K6 >6EC@D H:E9 E96 9:896DE 4@DE\@7\=:G:?8 25;FDE65 62C?:?8D 7@C 7F==\E:>6 >:==6??:2= H@C<6CD]k^Am
kAmk:>8 DC4lQ9EEADi^^5`IfB;dC=9a6`h]4=@F57C@?E]?6E^HA\4@?E6?E^FA=@25D^a_`h^``^ae`gdb`_^A286\b\b]A?8Q H:5E9lQ`__TQ ^mk^Am
kAm%96?[ E96J 4CF?4965 E96 ?F>36CD E@ :56?E:7J E96 `d 36DE\A2J:?8 =2C86 >6EC@A@=:E2? 2C62D] u23C:4 :?4=F565 H286 52E2 7@C 2== H@C<6CD[ A@AF=2E:@? 8C@HE9 2?5 >65:2? 9@>6 AC:46D 7C@> +:==@H] %96J =@@<65 2E A@AF=2E:@? 8C@HE9 E@ D66 H96E96C >@C6\277@C523=6 4:E:6D H6C6 8C@H:?8 2E 2 72DE6C C2E6 E92? @E96CD[ 2?5 E96J =@@<65 2E 9@>6 AC:46D 2D 2?@E96C >62DFC6 @7 C6=2E:G6 277@C523:=:EJ]k^Am
kAmw6C6’D H92E E96J 7@F?5]k^Am















