PLANSPONSOR - December/January 2020 - 35

FEATURE | ON THEIR OWN TERMS
... but they are earning less money, on
average, than previous generations did at
their age.
Generational Income Decline
Earnings of 25- to 34-year-olds
1989
2013
Source: Young Invincibles
Source: Bureau of Labor Statistics
MILLENNIALS' ALREADY-LOWER
PAYCHECKS ARE SPREAD
THINNER THAN PREVIOUS
GENERATIONS', AS WELL.
They're dealing with higher amounts
of student loan debt, ...
Percentage Graduating With Student Loans
46%
1992-1993
69%
21%
2017-2018
37%
23%
Average Student Loan Debt at Graduation
1992-1993
2017-2018
Source: Journal of Financial Planning
... higher housing costs ...
Median Rent and Home Value in Today's Dollars
n 1970 n 2000
$172,058
$693
$866
Median rent
Source: U.S. Census Bureau
$109,213
$9,320
$29,812
Boomers
Source: PwC
73%
93%
Median home value
Source: Schwab Retirement Plan Services, Inc.
say they worry about money often or
sometimes.
Source: Bank of America and Merrill Edge
8%
would like personalized investment
advice for their 401(k).
say they would take
advantage of a
financial wellness
program at work.
31%
40%
23%
Gen X
Millennials
46%
17%
62%
$40,581
$50,910
... and a greater responsibility for
the costs of their own health care.
Typical Household Spending on Health Care
Price increased an
average of $74.10 each
year for 34 years.
$2,474.85
1984
$4,994.25
2018
MILLENNIALS THINK-OFTEN
CORRECTLY-THAT THEY'RE WORSE
OFF FINANCIALLY THAN THEIR
PARENTS ARE, AND THEY'D LIKE HELP.
How Each Generation Feels It Is Doing Financially
Compared With the Prior Generation
l Worse financially l About the same l Better financially
PLANSPONSOR.COM December 2019 - January 2020 35

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PLANSPONSOR - December/January 2020

Table of Contents for the Digital Edition of PLANSPONSOR - December/January 2020

The Savings Hierarchy
2019 PLANSPONSOR Best in Class DC Providers
On Their Own Terms
HSA Investment Options
Steady as It Goes
The Employer Component
PLANSPONSOR - December/January 2020 - Cover1
PLANSPONSOR - December/January 2020 - Cover2
PLANSPONSOR - December/January 2020 - 1
PLANSPONSOR - December/January 2020 - 2
PLANSPONSOR - December/January 2020 - 3
PLANSPONSOR - December/January 2020 - 4
PLANSPONSOR - December/January 2020 - 5
PLANSPONSOR - December/January 2020 - 6
PLANSPONSOR - December/January 2020 - 7
PLANSPONSOR - December/January 2020 - 8
PLANSPONSOR - December/January 2020 - 9
PLANSPONSOR - December/January 2020 - 10
PLANSPONSOR - December/January 2020 - 11
PLANSPONSOR - December/January 2020 - 12
PLANSPONSOR - December/January 2020 - 13
PLANSPONSOR - December/January 2020 - The Savings Hierarchy
PLANSPONSOR - December/January 2020 - 15
PLANSPONSOR - December/January 2020 - 16
PLANSPONSOR - December/January 2020 - 17
PLANSPONSOR - December/January 2020 - 2019 PLANSPONSOR Best in Class DC Providers
PLANSPONSOR - December/January 2020 - 19
PLANSPONSOR - December/January 2020 - 20
PLANSPONSOR - December/January 2020 - 21
PLANSPONSOR - December/January 2020 - 22
PLANSPONSOR - December/January 2020 - 23
PLANSPONSOR - December/January 2020 - 24
PLANSPONSOR - December/January 2020 - 25
PLANSPONSOR - December/January 2020 - 26
PLANSPONSOR - December/January 2020 - 27
PLANSPONSOR - December/January 2020 - 28
PLANSPONSOR - December/January 2020 - 29
PLANSPONSOR - December/January 2020 - 30
PLANSPONSOR - December/January 2020 - 31
PLANSPONSOR - December/January 2020 - On Their Own Terms
PLANSPONSOR - December/January 2020 - 33
PLANSPONSOR - December/January 2020 - 34
PLANSPONSOR - December/January 2020 - 35
PLANSPONSOR - December/January 2020 - 36
PLANSPONSOR - December/January 2020 - 37
PLANSPONSOR - December/January 2020 - HSA Investment Options
PLANSPONSOR - December/January 2020 - 39
PLANSPONSOR - December/January 2020 - Steady as It Goes
PLANSPONSOR - December/January 2020 - 41
PLANSPONSOR - December/January 2020 - The Employer Component
PLANSPONSOR - December/January 2020 - 43
PLANSPONSOR - December/January 2020 - 44
PLANSPONSOR - December/January 2020 - 45
PLANSPONSOR - December/January 2020 - 46
PLANSPONSOR - December/January 2020 - 47
PLANSPONSOR - December/January 2020 - 48
PLANSPONSOR - December/January 2020 - Cover3
PLANSPONSOR - December/January 2020 - Cover4
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