The Millennial backlash is coming and the investment implications are massive. Are you ready?
Student-loan delinquencies soared last year, hitting back-to-back records of $166.3 billion in the third quarter and $166.4 billion in the fourth. Outstanding student debt now totals $1.6 trillion, up from $550 billion a decade ago. And this debt comes with more than just interest costs. New research from the National Bureau of Economic Research shows that student debt causes lower incomes. In contrast, 72% of the debt held by Americans aged 40 to 49 is mortgage debt, which comes with tax advantages and allows debtors to build home equity.
Source: Federal Reserve of St. Louis
Beset by the GFC, a toxic debt profile, and an uncertain future of work, the frightening financial reality of Millennials is well known (see WILTW August 2, 2018). N...
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