Why do Millennials blame student debt for their problems?

Asked by Abdul Aseez

2 Answers

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Answered by MoneyTips Writing Staff, Financial Adviser in Los Angeles, CA
You should find your answer in Millennials Blame Student Debt for Poor Retirement Saving . Please let us know if you have any follow-up questions.
| 01.21.15 @ 02:53
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$commenter.renderDisplayableName() — {comment} | 12.04.16 @ 12:24
Answered by Dave Bradley, Investment Manager (Financial Advisor) in North Charleston, SC
Hi Abdul,

In addition to the excellent article Money tips referenced, I am adding some additional thoughts. There are real reasons why the average American doesn't feel like he's drowning in prosperity:

Most of them are making less money than they did years ago. Median household incomes in 81% of US counties peaked 15 years ago is from late 2014, but the trends haven't improved since: http://wapo.st/1M8Fglc

Increases in health care costs make them feel poorer. American workers with employer-sponsored health insurance saw their premiums rise 27% and their deductibles rise 67%, on average, from 2010 to 2015 ( http://on.ft.com/1orLmBD ).

94 million Americans are out of work today, compared to 81 million out of work in 2009. They aren't captured in the 4.9% unemployment rate, because they are no longer considered part of the work force. And the decline in workforce participation is not driven by Baby Boomers retiring, but by prime working age adults falling out of the labor force ( http://bit.ly/1M8Fglf ).

Feel free to contact us for more information and we have many no cost educational resources that delve into this in greater detail. No obligation

It's not what you make, It's what you keep that determines your lifestyle
| 04.18.16 @ 17:01
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$commenter.renderDisplayableName() — {comment} | 12.04.16 @ 12:24
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