woman at laptop holding Help sign and paper boat and looking skyward (Photo: Shutterstock)

Many Millennials, who were alive during the economic boom of the 1990s, now find themselves on the other side of the balance sheet. In fact, they have earned the unenviable title of America’s poorest generation.

Nearly three-fourths of U.S. Millennials have some form of non-mortgage debt averaging $117,000, according to a new survey from Real Estate Witch. More than 6 in 10 Millennials believe it will take 1 to 5 years to pay off their debt; 1 in 10 say it will take more than 10 years; and 6% believe they never will pay it off.

 

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