The Baby Boomers were the product of the largest and most prosperous middle class in world history which has subsequently been destroyed by the convergence of dozens of factors.
By Lauren Messman
A depressing new analysis found that young Americans today are making 20 percent less than baby boomers were at the same age.
Despite being the largest and best-educated generation in the country, millennials are far worse off financially than baby boomers were, spelling out a troubling financial future for young people throughout their lifetime, according to a depressing new analysis from the advocacy group Young Invincibles.
After looking at 2013 Federal Reserve data for 25- to 34-year-olds and comparing it with the same age group back in 1989, the analysis found that millennials today are making a median income of around $40,000—a whopping 20 percent drop from what baby boomers were earning when they were just starting out. Baby boomers also had twice the number of assets that millennials have now.