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Sorry, kids.

by Miriam - December 13th, 2016.
Filed under: Insights.

Below is data which supports what I’ve long suspected – that my children are not positioned to make more money over their lifetime than I am. My generation is the last to achieve that part of the American Dream.

From The American Dream, Quantified at Last, by NYT op-ed columnist David Leonhardt, the average American born in 1940 (which would refer to my parents and other early Baby Boomers) was 92% likely to earn more than his or her parents. Today, the average American born in 1980 is only 50% likely. My expectation is that children born in the ’90’s (which would be my children) are even less likely.

the-american-dream-quantified-at-last-the-new-york-times

If you read the column, also check out the comments. One in particular struck me: For young people, being debt-free is the “new wealthy.”

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