We need to address a problem. Although Millennials are more educated than previous generations, we find ourselves in worse financial positions. The average net worth of the Millennial generation is less than $8,000. The average student loan debt upon graduation in America is over $30,000.
Why are Millennials poorer than previous generations, and what can we do to make up for the difference in wealth? In this video, I will explain some of the reasons why Millennials struggle to achieve financial freedom and the steps that you can take to gain independence and retire early.
One note I forgot to mention in the video: Millennials are getting married later in life than previous generations. The average age for a first marriage for women in the U.S. was 27, with men marrying for the first time at age 29.
Compare those numbers to the ages in 1980 which were 22 for women and 25 for men.
Additionally, for the first time ever, more women are having children in their 30’s than in their 20’s.
In general, many people do not begin to make serious efforts towards retirement plans and financial stability until they begin to “settle” or start a family. This, of course, is my opinion.
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DISCLOSURE: Some of the links on this page are affiliate links, meaning, at no additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe. Affiliate commissions help fund videos like this one.
I am not a financial advisor. The ideas presented in this video are for entertainment purposes only. You (and only you) are responsible for the financial decisions that you make.
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