About $1,000 more on health care.
About $1,500 more on pensions and Social Security.
About $2,000 more on overall housing (rent, maintenance, utilities, etc.).
About $700 more on education.
About $1,000 more on health care.
About $1,500 more on pensions and Social Security.
About $2,000 more on overall housing (rent, maintenance, utilities, etc.).
About $700 more on education.
Seems boomers are to blame.
More importantly, the vast majority of boomers didn't spend anything. "The overall college enrollment rate for 18- to 24-year-olds increased from 26% in 1980 to 41% in 2012."[1] The lost leverage by having taken on these costs at a young age, by a much larger portion of the population, seems to be directly responsible for the struggles of the millennials. The indebted people with student loans are left with no ability to say no when they feel they are getting a raw deal.
[1] https://www.census.gov/content/dam/Census/newsroom/c-span/20...