A ‘how do I compare’ guide for millennials on savings, debt and home ownership | General financial discussion | Discussion forum

From Rob Carrick in the G&M -

A ‘how do I compare’ guide for millennials on savings, debt and home ownership

Millennials entered adulthood at a time of historically low interest rates, soaring house prices, stiff tuition cost increases and a job market where temporary work without benefits or pensions is common.

With all this disruption, it’s difficult to know what a normal debt load, a normal mortgage balance and a normal amount of savings is if you’re a young adult. Do most millennials owe money? If so, how much? Is it common to have no savings in this age group?

A poll this week on debt and savings by the Angus Reid Institute in partnership with The Globe and Mail offers some answers. A total of 1,500 people were surveyed in the fall, 478 of them aged 18 to 37 and thus classifiable as millennials.

https://www.theglobeandmail.com/investing/personal-finance/gen-y-money/article-what-is-a-normal-financial-situation-for-millennials/