Why Gen X Lost Big in the Great Recession


Gen Xers built up too much debt right before the recession.

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This generation had debt, and a lot of it. The 10 years preceding the Great Recession were characterized with high debt accumulation rates for Gen Xers, with a median debt of $80,000 ($20,000 more, on average, than the second most-indebted generation, the Late Boomers). This, coupled with their already low net worth, made for a terrible situation to be in should a recession hit. Then, right on cue …

Next: Gen Xers lost almost half their wealth in the Great Recession.

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