Dave Ramsey Blames Gen Z Unease on Nearly $4 Trillion Debt as S&P 500 Doubled in 4 Years
Updated
Updated · Yahoo Finance · Aug 15
Dave Ramsey Blames Gen Z Unease on Nearly $4 Trillion Debt as S&P 500 Doubled in 4 Years
2 articles · Updated · Yahoo Finance · Aug 15
Summary
Ramsey said younger Americans’ anxiety about the economy reflects debt-strained budgets more than market performance, arguing Gen Z and millennials are too squeezed by monthly payments to benefit from rising asset prices.
About $1 trillion in auto loans, $1 trillion in credit-card balances and nearly $2 trillion in student debt are absorbing income that could otherwise go to saving or investing, he said.
The disconnect is sharper because the S&P 500 is up 13% this year and would have doubled investors’ money over four years, gains Ramsey says many younger households could not participate in.
Housing adds to that frustration: Ramsey said many feel boxed out of homeownership, reinforcing his broader point that reducing debt is what frees income to build wealth.