30-Somethings Now Worse Off Than 30-Somethings 30 Years Ago

By Michael Klopfenstein

30-Somethings Now Worse Off Than 30-Somethings 30 Years Ago

June 24, 2013 Updated Jan 8, 2014 at 4:48 PM EDT

UNITED STATES (www.incnow.tv) – A recent study shows that 30-somethings are worse off than their parent generation.

In a study from the Urban Institute, the total net worth of professionals in their 30’s is down 21 percent compared to those in 1983. So, 30 years ago, 30-somethings were living a little more comfortably than those today.

They are even struggling to buy a home. According to the U.S. Census, people under the age of 39 are not becoming home owners like in the past, a trend that began back in 1990.

One of the main reasons for the drop in wealth for this generation is due to the amount of student debt accumulated since college graduation. In fact, college debt has tripled over the last 10 years, according to the Federal Reserve of New York.

The 30-something generation of the 21st century may end up being poorer than their parents. This kind of thing hasn’t happened since the Great Depression.

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