Millennials, now aged 30-40, have faced multiple economic challenges that have hindered their financial progress. They entered adulthood during the Great Recession, with high unemployment rates and growing student debt. Additionally, rising college costs and a slow economic recovery left them with limited opportunities to save. Unlike boomers, who benefited from favorable economic conditions in their early career years, millennials have been hit by consecutive financial setbacks, including the 2020 pandemic’s impact on employment and inflation.

Despite these struggles, there is still hope for millennials. With more experience in their careers, they now have opportunities to increase savings, such as contributing to retirement accounts like IRAs or 401(k)s. Financial experts suggest focusing on compound growth and investing in real estate or REITs as effective ways to recover. If economic conditions shift in their favor, millennials can make up for lost time and build significant wealth in the coming decades.