
What can be done about this issue? How do we insure financial safety for the youngest members of the workforce? Not to be left behind, many of this set are finding their way into politics. Maybe this will be the answer?
In a new study this month, economists from the Federal Reserve Bank of St. Louis examined whether Americans are now wealthier or poorer than previous generations were at their age.
What they found may surprise you. People born before 1960 are in a better financial position than their predecessors while those born after 1980 are in a much worse situation. This generation is facing an array of money drains, such as student debt, auto loans, and credit card balances making it almost impossible for them to gain wealth quickly enough to match previous generations.