Millennials or Generation ‘Y’ Won’t Ever Be Millionaire’s
Millennials or Generation 'Y' are people that were born in the mid to late 80's, 90's and 2000's. The odds are not in millennials favor at the moment, at the moment to become a millionaire. The problem is simple. The wages have not change and everything is more expensive to buy. People 40 to 62 have been working longer and have a chance to save more. Millennials have only been working a few years. Since everything is at a higher price, it is harder for them to save money.
The Washington Post breaks this down for us with a very cool graph and a crazy explanation. I am over 40 and I actually had a million dollars in the bank at one time. But, just like the problem millennials have, everything is more expensive so my money is gone.
There is a moral to this story. Stop buying stuff and save your money! HA!