25 Years of Local Philanthropy: Community Foundation of Muscatine Celebrates

credit: The Guardian

If you're born between 1981 and 1996, you're in the prime of your lifebut if you're a millennial, you're not in the prime of your life.

That's according to Census Bureau data, which shows that the average income of all American business owners, including millennials, is about $14,000 more than that of millennial business owners, who are starting or owning businesses for the first time, the Los Angeles Times reports.

But while millennials are in the prime of their lives, they're also struggling with more personal debt, higher education costs, and other financial issues.

"They have more barriers to overcome before doing so," says an analyst at the Center for Economic and Policy Research.

For example, many entered the workforce during and shortly after the Great Recession, when job openings were low and unemployment was high, and most who attended college experienced dramatic increases in the cost of higher education.

As a result, millennials are earning less than other generations, including baby boomers, World War II veterans, and Gen Xers, who made more in the early years of their lives, the Times notes.

But they're also starting or owning businesses at a higher rate than previous generations, meaning they're better off than previous generations when it comes

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