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    Millenials in worse financial shape than any prior generation (since the Great Depres

    Millenials in worse financial shape than any prior generation (since the Great Depression)

    High student debt and entering the work force during the Great Recession has left many millenials financially behind. This is going to be a serious problem for them and they likely will have little to nothing saved for retirement.

    American millennials are approaching middle age in worse financial shape than every living generation ahead of them, lagging behind baby boomers and Generation X despite a decade of economic growth and falling unemployment.

    Hobbled by the financial crisis and recession that struck as they began their working life, Americans born between 1981 and 1996 have failed to match every other generation of young adults born since the Great Depression. They have less wealth, less property, lower marriage rates and fewer children, according to new data that compare generations at similar ages.

    Even with record levels of education, the troubles of millennials have delayed traditional adult milestones in ways expected to alter the nationís demographic and economic contours through the end of the century.

    Millennials helped drive the number of U.S. births to their lowest levels in 32 years. That means fewer workers in the future to support Social Security and other public programs for the ballooning population of retirees.

    Falling Behind

    As it approaches middle age, the millennial generation (born 1981-96) lags behind previous generations in building assets as it pays down student debt and defers marriage and homeownership.

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