Study: 30-Somethings Worse Off Than Their Parents
ATLANTA (WAOK) – Americans in their 30s are worse off financially than their parents were at the same age.
The Urban Institute says the net worth of today’s 30-somethings when adjusted for inflation is about 21-percent below the net worth of people their age three decades ago.
Economists think a big reason for this is that traditional ways of building wealth like buying a home are disappearing.
The U.S. Census reports the number of Americans under age 39 who own their own homes has dropped significantly since 1990.