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Meet the typical 40-year-old millennial, who has $128,000 in debt, is not nearly as wealthy as their parents were, and is known as 'geriatric'

Business Insider Logo By hhoffower@businessinsider.com (Hillary Hoffower) of Business Insider | Slide 1 of 11:  The oldest millennials turn 40 this year. They have less wealth, more debt, and about the same earnings as past generations at their age. They straddle the digital worlds of old PCs and today's social-media apps. See more stories on Insider's business page. The oldest millennials enter middle age this year.The generation is now aged between 25 and 40, according to the Pew Research Center's definition.Yes, like everyone, millennials are aging, but it's a hard concept to grasp when the media narrative has painted millennials as young, frivolous 20-somethings who love selfies and can't afford anything because they spend too much money on avocado toast.It's an inaccurate picture of the generation, which has been shaped by technological advancements and a broken economy. But the typical 40-year-old millennial especially doesn't quite align with this image. Many feel they embody some characteristics of both Gen X and millennials, having experience with both analog and digital worlds.Millennials are known for battling a series of economic challenges, from student debt to the Great Recession. The typical 40-year-old millennial bore the brunt of the financial crisis, which left them with less wealth and more debt than past generations at their age.But compared to their younger generational peers, they have less student debt and are more likely to own homes and have kids - a sign that many have recovered from the financial fallout.Here's what life looks like for the typical 40-year-old millennial.Read the original article on Business Insider

Meet the typical 40-year-old millennial, who has $128,000 in debt, is not nearly as wealthy as their parents were, and is known as 'geriatric'

The oldest millennials enter middle age this year.

The generation is now aged between 25 and 40, according to the Pew Research Center's definition.

Yes, like everyone, millennials are aging, but it's a hard concept to grasp when the media narrative has painted millennials as young, frivolous 20-somethings who love selfies and can't afford anything because they spend too much money on avocado toast.

It's an inaccurate picture of the generation, which has been shaped by technological advancements and a broken economy. But the typical 40-year-old millennial especially doesn't quite align with this image. Many feel they embody some characteristics of both Gen X and millennials, having experience with both analog and digital worlds.

Millennials are known for battling a series of economic challenges, from student debt to the Great Recession. The typical 40-year-old millennial bore the brunt of the financial crisis, which left them with less wealth and more debt than past generations at their age.

But compared to their younger generational peers, they have less student debt and are more likely to own homes and have kids - a sign that many have recovered from the financial fallout.

Here's what life looks like for the typical 40-year-old millennial.

Read the original article on Business Insider
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