Young Americans

Your Money: Younger Generations Lag Parents In Wealth-Building

2 months ago

Most young workers have accrued less wealth than their parents did at the same age

Student loan debt, credit card scams, and medical bills. Oh my! Young people up to age 40 have accrued less wealth than their parents did are the same age, even as the average wealth of Americans has doubled over the last quarter-century, a new study from the Urban Institute finds. Young adults will probably face less secure futures for decades down the road and less comfortable retirements. “It’s a little bit of a tipping-point moment,” said Signe-Mary McKernan, an author of the study. “If we don’t address it today, [young adults] might never catch up.” Experts say strong and sustained job and wage growth would cure many of the ills facing younger workers. Honestly, the ball is in Washington’s court on this one. (New York Times)

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Obamacare In Action: Fewer Young People Lack Health Coverage

3 months ago

Hispanics and the low-income still most likely to live without insurance

Need more proof that President Barack Obama’s healthcare reforms are good for young people? Check this: In the final four months of 2012, the portion of Americans aged 18 to 25 without health insurance dropped to 22.7 percent, according to results of a Gallup poll released Monday. That number is down from 24.5 percent in the first quarter of 2012 and is lowest since Gallup started tracking coverage rates in January 2008. These young people, of course, continue to benefit from a provision in the healthcare law that allows children until the age of 26 to stay on their parents’ healthcare plans. Conversely, uninsured rates for older age groups held steady over last year. Hispanics and the low-income were also more likely to be uninsured, all of last year. Guess that means when the other key provision kicks in next year, supposedly making coverage affordable to millions more, and if Congress and Obama agree on immigration reform, perhaps there will be more success for Obama's historic legislative achievement. (Gallup)

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For Younger Americans, Gloomy Outcomes on Health

4 months ago

Those under 50 die earlier and live in poorer health than peers in other developed countries

If improving health was one of your New Years resolutions, you might use these new stark findings as your motivation for success. Younger Americans die earlier and live in poorer health than their peers in other developed countries, according to a new analysis of health and longevity in the U.S. Although researchers have known for a while that Americans fare poorly in comparison to other rich countries, the new findings were stark. Death before age 50 accounted for about two-thirds of the difference in U.S. life expectancy between American males and their peers in 16 other developed countries. The countries included in the analysis are Canada, Japan, Australia, France, Germany and Spain. The 378-page student by a panel of expects was convened by the Institute of Medicine and the National Research Council. It’s the first study to comprehensively compare deaths and health measures for people of all ages, including American youths. (New York Times)

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