A recent study from the Pew Charitable Trusts finds that members of Generation X have more income but also more debt than their parents did at a comparable age. The report defines Generation X as those born between 1965 and 1980.
According to the report, three-quarters of people in Generation X have higher incomes now that they are in their 30s and 40s than their parents did at comparable ages, but only 36% have more wealth. The report attributes the decline in wealth in part to higher debt, with nearly all members of Generation X reporting student loans or medical, credit card, or other debt. The median Gen-Xer has $7,000 in debt while their parents had just over $1,000 in debt at a similar age. (All dollar amounts in the report are adjusted for inflation.)
