Millennials Bear a Historically Heavy Debt Burden
An infographic based on the Fed’s Survey of Consumer Finances data shows that the average Millennial owed $84,600 in total debt in 2016—higher than the amount owed by an Xer in 2001 ($79,400, adjusted for inflation) or a Boomer in 1989 ($59,300). This hefty burden explains why Millennials shy away from risky ventures such as starting a business.