Generations X’s aren’t slackers; they just need more guidance, according to research sponsored by Charles Schwab.Those between 27 and 42 work hard, but they have more debt than cash, according to The Boston Globe. This, coupled with a distrust of financial services, means this generation lacks the guidance it needs to correct these problems.
“They aren’t’ being well served,” said Jonathan Craig, who spearheads Schwab’s efforts to reach out to thirtysomethings.
With larger school loans, and more lavish lifestyles dependent on cell phones, computers and Internet service, GenXers earn less, in real dollars, than the generation before.
In 2005, the median income of a male between the age of 25 and 24 was $31,161. In today’s dollars, the same demographic earned $35,296, on average, in 1975.
The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.