By some measures, Generation Z is the hardest hit by the affordability crisis.
Even though young adults are more likely to have a college degree and work full time compared with their parents at this age, that combo also comes larger student loan balances, which have proved to be a significant obstacle for those starting out.
At the same time, prices for goods and services continue to rise and wages just haven’t kept up with those soaring everyday expenses. Between 2017 and 2025, median weekly earnings grew by 38%, while rents increased by 50%, according to a new analysis by the Urban Institute.
Americans across the board struggle with higher costs, but nearly half, or 49%, of adults ages 18 to 29 have delayed or skipped medical care — more than any other age group, according to a study by the Century Foundation. In addition, this cohort is also more likely to skip a meal due to financial constraints or tap their into savings to make ends meet.
Here’s a look at other stories affecting the financial advisor business.
