Twenty-somethings—known alternately as Generation Y, Millennials and Echo Boomers—are struggling under a mountain of debt averaging $45,000, according to a survey released today by The PNC Financial Services Group Inc.
The survey found that the debt of twenty-somethings increases as they move into their late 20s, with debt levels averaging $12,000 for 20- to 21-year-olds and $78,000 for 28- to 29-year-olds. Meanwhile, the portion of income saved declines as they grow older, the survey found.
Register or login for access to this item and much more
All Financial Planning content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access