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Millennials make less than boomers did at their age

Although education does help increase incomes, the median college-educated millennial with student debt is only earning a little more than a baby boomer without a degree did in 1989.

By Marlene Y. Satter | Updated on January 16, 2017
Millennials are better educated than boomers were, but worse off than boomers were at their age. (Photo: Getty)

Pity the poor millennials. Drowning in student debt, working at jobs with low pay and struggling to save for retirement—when they think about retirement, that is.

And there’s a good reason for that: millennials are making 20 percent less than boomers did at their age—and that’s despite the fact that they’re also better educated than boomers were when they were younger.

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