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.

Eighties Babies Are Officially the Brokest Generation, Federal Reserve Study Concludes

---