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American millennials have less money than other generations did at their age a?? but studies show an alarming amount of them have delusional ideas about their wealth

American millennials have less money than other generations did at their age a?? but studies show an alarming amount of them have delusional ideas about their wealth
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Many American millennials think they'll be millionaires by middle age and have a generally positive view about their finances, according to several studies.




However, research shows a different reality: Millennials are behind financially.




Millennials got a slow start to building wealth because of the Great Recession, and a rising cost of living has made it harder for them to save.




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Some American millennials are pretty positive about their financial situation.
More than 50% think they'll be millionaires one day, according to a 2018 TD Ameritrade survey — and more than a quarter of that group believes they'll reach that milestone by age 40.
Other studies similarly reveal millennials' optimistic mindset: Investment research platform YCharts found more than half of those aged 22 to 37 thought they'd become a millionaire by age 45, according to Catey Hill of MarketWatch; LendEDU found that more than half of millennials think they'll be wealthier than their parents; and 37% of millennials said in an INSIDER and Morning Consult Survey they think they're better off financially than they thought they'd be 10 years ago.
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