- **higher costs of living**: millennials face higher costs for education, healthcare, and housing compared to boomers. for instance, college tuition has increased by over 200% since the mid-20th century[2]. - **greater debt burden**: millennials carry more student loan debt than any previous generation. this debt often delays milestones like homeownership and family formation[1][2]. - **wealth inequality**: economic rewards have shifted disproportionately toward those in high-income professions. millennials in working-class jobs face stagnating wages and are less likely to achieve financial stability compared to their boomer counterparts[2]. - **erosion of stable jobs**: millennials are more likely to work in low-paid service jobs or gig economy roles with fewer benefits and less job security than boomers enjoyed in unionized or stable industries[2][4]. - **delayed life milestones**: due to financial constraints, millennials are postponing marriage, parenthood, and homeownership more frequently than boomers did at the same age[2]. - **limited wealth mobility**: unlike boomers who benefited from a growing middle class and upward mobility, millennials face structural barriers such as stagnant wages and rising inequality that limit their ability to accumulate wealth[3][4]. these disparities highlight how even with comparable work ethic and effort, younger generations today face systemic economic challenges that hinder their ability to achieve the same financial outcomes as baby boomers.
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