Instead of stupid exit exams for high school students , they should take a monetary class on Living within your means and the dangers of debt.
A $10 dollar drink at the club could be $1,000 when you hit your thirties if invested smartly.
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Instead of stupid exit exams for high school students , they should take a monetary class on Living within your means and the dangers of debt.
A $10 dollar drink at the club could be $1,000 when you hit your thirties if invested smartly.
Perhaps because they are retired and poverty is measured by income? It also doesn't count SS, medicare and other entitlements exclusive to seniors completely. I know that the wealth stats are way out of whack.Quote:
Originally Posted by boutons_deux
http://www.forbes.com/sites/ashleaeb...lth-stagnates/Quote:
Younger generations used to be successively wealthier, but no more. “For many, the American dream of working hard, saving more, and becoming wealthier than one’s parents holds true. Unless you’re under 40.” That’s the grim finding of Eugene Steuerle, co-director of the Urban-Brookings Tax Policy Center, who co-authored, “Lost Generations? Wealth Building among Young Americans.”
The authors looked at the change in average net worth from 1983 to 2010 for various age groups, based on the Federal Reserve Board’s Survey of Consumer Finance data. While the net worth of those 47 and older is roughly double that of someone the same age 27 years earlier, today’s adults in their mid-30s or younger have accumulated no more wealth than their counterparts 27 years ago.
Specifically, those ages 29 to 37 (younger Gen Xers and older Gen Yers) actually lost significant ground; they saw their average net worth drop 21% between 1983 and 2010. (The comparison is between people of the same age in 1983 and 2010).