Boomers

Baby boomers are starting to retire.

Millennials earn 20% less than baby boomers did at the same stage of life, despite being better educated, according to a 2017 analysis of Federal Reserve data.

A 25-year-old millennial man with a high school degree or less makes an average of $29,000 per year. That's about $2,600 less than the generation before them, the Gen Xers, people aged 38 to 53, and almost $10,000 less than baby boomers, those aged 54 to 72, earned at the same age.

And for many millennials, boomers [people aged 55 to 75] are finally going to transition increasingly out of the workforce, which is going to create opportunity for them to actually move up into more management-style roles.

America’s retailers are taking notice now that millennials have overtaken aging baby boomers as the country’s largest living generation of adults.

A recent study published in Science Advances found that Americans older than 65 – also known as baby boomers – are more likely to share fake news links on Facebook than younger Americans born after 1996 (Generation Z).

Andrews argued that millennials are imitating Boomers.

“If there’s hope, it lies with Gen X,” she said, referring to the age group sandwiched between Boomers and millennials, born 1965 to 1980.

Renting an apartment can be a challenge for new college graduates who are facing the hottest U.S. rental market in a decade, along with some unexpected competition from millennials — people aged 24 to 40 — and even baby boomers — the over-57 club.

“It's not just about millennials, it's not just about [Gen] Z [people under 24], we also see that boomers are making a transition, he added. “Their percentage of moving into rental properties is growing in the last five years.”