University of Missouri

Thanks to recession, millennials trail their boomer parents financially

Thanks to recession, millennials trail their boomer parents financially

When Julius Givens moved to Chicago after graduating from college in 2013, he spent six months delivering Potbelly sandwiches by bicycle while living with two other roommates in a studio apartment.

"I had no money" and more than $20,000 in student loans after earning a bachelor's degree from the University of Missouri, said Givens, who aspired to be a firefighter at the time. "It's tight living with three people in a studio, but you figure out how to handle it."

Scrimping was a way of life for Givens, and it still is for some in his generation. Through a fluke in the timing of their births, 75 million young adults in the millennial generation entered...

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