Understanding Generational Financial Challenges

What percentage less purchasing power do younger generations have compared to Baby Boomers?

• 76%

• 96%

• 86%

• 66%

In 2022, how many years of wages would it take for a Millennial to buy a median-priced home outright?

• 4.11 years

• 5.11 years

• 7.11 years

• 6.11 years

What was the home to price income ratio for Baby Boomers in 1988?

• 6

• 5

• 4

• 3

How has the home price index compared to the median household income from 1955 to 2005?

• Home prices fluctuated above and below income

• They were equal

• Household income was always higher

• Home prices were always higher

What is the current student debt crisis amount in the U.S.?

• $2 trillion

• $1.7 trillion

• $1.5 trillion

• $1.2 trillion

By what percentage has the number of graduating students increased since 1970?

• 250%

• 300%

• 200%

• 150%

What percentage of Millennials are living paycheck to paycheck?

• 63%

• 73%

• 83%

• 93%

What is the recommended percentage of gross income to be spent on rent?

• 30%

• 25%

• 35%

• 20%

What is the maximum recommended percentage of gross income to be spent on car payments?

• 20%

• 15%

• 10%

• 5%

What is one of the best ways to increase income according to the video?

• Staying at the same job

• Switching jobs

• Working overtime

• Starting a side business