News, Making less than dad did. (calculate, money, salary, inflation)

[John1960]

Report reveals that American men in their 30s earn less than their fathers did, as family income growth decelerates.

NEW YORK (CNNMoney.com) -- American men in their 30s are earning less than their father's generation did, challenging a long-held belief that each generation will be better off than the one that preceded it, according to a new study published Friday.

The report, the first in an ongoing 18-month study on economic mobility in the United States, also revealed that the income growth of the median American household is declining.

http://money.cnn.com/2007/05/25/pf/m...ex.htm?cnn=yes

[cdelena]

At first I thought that had to be wrong, but when I calculated my father's top salary against mine factoring inflation, his peak in the 60's was higher than mine in the 90's. The fact that I had a working spouse, fewer kids, and was a better money manager resulted in me having a far higher standard of living.