Why Young Americans Feel Broke Despite Rising Net Worth

A CNBC report reveals that despite higher wages and net worth, many young Americans are struggling financially. Rising costs of rent, healthcare, and childcare are cited as major factors, even after adjusting for inflation. Consumer debt, especially student loans, further complicates the situation. "Many people are living at break-even," says Rachel Schneider, CEO and Founder of Canary. Professor Tim Smeeding of the University of Wisconsin-Madison adds, "A lot of people, particularly in the working class, don't think their children will be as well-off as they were." This highlights a growing concern about economic mobility and the changing financial landscape for younger generations in the United States.