The average net worth of millennials is quite negative
As if we didn't already know we had money struggles, The College Investor revealed the net worth of millennials and trust us, it's not pretty.
The study states that the average net worth between the ages of 18 and 29 is actually negative. Yes, as in under zero.
The formula used to find the net worth included the average salary, debt, and savings rates of people between the ages of 18 through 35.
The College Investor suggested that you should try to have $10,400 to your name in order to be above average in this age group. It was also reported that the average millennial has $30,000 in student loans.
The reason? Mainly because of college debt. The College Investor revealed, “Millennials have some of the highest student loan debt rates of any generation in history.”
Check out the numbers below: