4 years ago
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Many millennials are worse off than their parents -- a first in American history
On paper, it looks like Scott Larsen is doing better than his father was at the same age. At 29, Larsen has a college degree and earns more money, but he doesn't feel he's moving up in the world. When his father, Craig, was 29, he was already married, owned a home in Payson, Utah, and had two of his five children. Now 64, Craig Larsen worked as a mechanical engineer, earning about $20,000 a year at the time, or about $50,500 in today's dollars, even though he hadn't finished college. His wife, Kathy, was a stay-at-home mom.
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Definitely not the case in my family. My kids are doing much better than my hubby and I were at their age. For starters, there is a lot more information available to help them become financially secure and debt free.