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Huge Debt, No Savings

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GENERATION Y SAVE?
"They're called "Generation Y" — teens and twentysomethings known stereotypically for their coddled upbringing, confidence, opinionated dialogue, free-spending habits and openness to change," USA Today reports. "Ultimately, however, the more than 50 million members may be best remembered for whether they can overcome the dire financial straits that plague many of them. [S]tagnant wages, job insecurity, the decline in employer-sponsored health insurance and retirement benefits, the rapid increase in basic expenses, soaring debt and minimal savings have jeopardized the economic security of the entire generation, according to a recent report by Demos, a public policy research and advocacy think tank."
SOURCE:   USA Today

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