Current generation of young Canadians wealthiest ever: federal study

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Current generation of young Canadians wealthiest ever: federal study

http://www.cbc.ca/news/politics/millennials-money-canada-generation-1.3462064

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Canada's young adults are struggling financially, stuck in crappy McJobs, saddled with student debt and living in their parents' basements, right?

Wrong, says a new analysis from the federal Finance Department: 28 to 34-year-olds are actually the wealthiest such generation in Canadian history.

"The current generation of young Canadians is, on average, wealthier than previous generations of young Canadians," says the confidential report, though with some cautionary notes.

"Young Canadians … born in the first half of the 1980s had an average net worth of close to $93,000 per adult. In contrast, previous generations of young Canadians had an average net worth of about $60,000 per adult — 35 per cent less once adjusted for inflation."



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