Monday, June 3, 2019

feel poor? you're not just imagining it

The HillNet worth of Americans aged 18 to 35 has dropped 34 percent since 1996: study

The net worth of the average 18- to 35-year-old has plummeted 34 percent since 1996, according to new study from accounting group Deloitte.

Despite stereotypes that millennials overspend on entertainment and dining out, the Deloitte study found that the generation is paying more for education, food, transportation and other basic needs, while their incomes have stayed steady.

The group's average net worth is now below $8,000, putting today's millennials in a worse financial position than previous generations.

Deloitte researchers told The Washington Post that the study's findings “debunk many conventional wisdoms about the new-age consumer.”

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