Bearing the brunt of the Great Recession

The Fiscal Times (see here) has a post highlighting some recent Census data that shows that Generation X may have experienced the most significant impact of the Great Recession in terms of median net worth.

The author puts it this way:

"Gen X, a generation that's relatively small at 46 million and known for their political apathy and trends like grunge in their heyday, has largely stayed out of the headlines; but they're also a generation that has tried to do everything right financially. Most worked at a stable job for years, built a comfortable savings, and likely just bought their first home at the market's peak. Then when everything came crashing down, they were stuck with an underwater mortgage, young kids in the house, possibly a job loss, and unlike boomers, they never had a chance to diversify their portfolios, potentially losing a lot of what they had in stocks."