In 2017 millennials are making a full 20% less than their boomer parents were making at the same stage of life. Millennials have a median income around $40,000 a year.
The college education that boomers pushed their children to get, thinking it would secure their wealth, isn't enough. The wealth hasn't materialized. Millennials are more educated than any other generation in history — and they have half the net worth their parents had. We aren't living in mid-twentieth-century America anymore, no matter what Donald Trump promises to return us to.
Nearly half of all millennials are living in their parents' basements. Many others are rooming with two or three other millennials in a small apartment, trying to pay down their $40,000 student debt from their $40,000 salary.
Here's the truth of the matter: Anyone making $50,000 or less a year will suffer for the rest their life unless if they do something to change their situation.