On payday, it feels like my wife and I have the means to do anything we want. The day before payday, the despair of inescapable long-term debt feels overwhelming.
Welcome to the middle class!
I realized, while doing our taxes this year, that we had joined this shrinking club — at least as far as the numbers go.
But the millennial middle class is much different from that of the baby boomers and even Generation X. We all want the same things — happiness, comfort and security — just, it seems, in a different order. That generational re-prioritization bucks historical expectations of how we should be spending or saving our money.
Listen, I’d love to buy a house, but I was told a college education was the key to my future (hey, it got me this far). That key used to open the door to home ownership, but the average college debt for my graduating class is $30,000.
Well look at that — I’m above average. And let’s not get started on wage stagnation.