Two-thirds of 30-year-olds now earn LESS than their father

Mail Online | 4/12/2019 | Victoria Allen for the Daily Mail
Click For Photo: https://i.dailymail.co.uk/1s/2019/04/12/21/12209108-0-image-a-31_1555102490042.jpg

It's long been seen as a sign that you are making your own way in the world.

But these days two-thirds of 30-year-olds do not manage to make more money than their father did at the same age, a study has found.

Half - Adults - Age - Milestone - Salary

In 2005, more than half of young adults of this age had reached the milestone of earning a higher salary than their father.

Researchers who worked out the figures say the credit crunch of 2008 is likely to be responsible, with the effects of the financial downturn still being felt a decade on.

Adult - Parents - House - Property - Ladder

The average young adult now earns less than they would have in 2005, which also makes them less likely than their parents to be able to buy a house and get on the property ladder.

A co-author of the study, Sumaiya Rahman, from the University of Surrey, said: ‘Many people measure their success by how much further they have gone in life compared to their parents.

Notice - Earnings - Size - House - Parents

‘People notice if they do not have the same earnings, do not live in the same size of house as their parents and do not achieve what they grew up seeing as normal.

Researchers looked at 30-year-old men who were fathers between...
(Excerpt) Read more at: Mail Online
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