Average Debt By Age (How Do You Compare To Other Americans?)
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Americans are carrying staggering amounts of debt by age, but how does your debt compare? Brian and Bo break down the average debt for Gen Z, Millennials, and Gen X, including credit card debt, student loans, car loans, and mortgages. More importantly, they explain which debts could derail your investing, retirement savings, emergency fund, and path to financial independence. Whether you’re wondering how much debt is normal for your age, when to pay off debt vs. invest, how much car you can afford, or whether you should pay off your mortgage early, this episode gives you a framework for making smarter money decisions.
Timestamps
00:00:00 How Much Debt Do You Have?
00:00:36 America’s Growing Debt Problem
00:03:15 Gen Z: Average Debt & Biggest Risks
00:08:01 Student Loans: How Much Is Too Much?
00:09:53 The Car-Buying Rule Gen Z Should Follow
00:11:37 Monarch
00:13:03 Millennials: The $132,000 “Messy Middle”
00:16:24 Millennials’ Biggest Debt Traps
00:18:38 How Much House Can You Actually Afford?
00:21:40 Gen X: Average Debt & the Overconfidence Trap
00:26:14 Debt Mistakes to Avoid in Your 40s & 50s
00:29:13 Student Loans Before Retirement
00:30:12 Your Financial Past Doesn’t Define Your Future
🔗 Financial Order of Operations → https://moneyguy.com/guide/foo/
🔗 Car Affordability Calculator (20/3/8 Rule) → https://moneyguy.com/tool/car-affordability-calculator-20-3-8-rule/
🔗 How Much House Can You Afford? → https://moneyguy.com/tool/how-much-house-can-you-afford/
🔗 Wealth Multiplier Calculator → https://moneyguy.com/tool/wealth-multiplier/
🔗 Net Worth by Age (Compared to Peers) → https://moneyguy.com/resource/net-worth-by-age-compared-to-peers/
🎓 Brian Preston (CFP®, CPA) and Bo Hanson (CFA®, CFP®) share professional insights to help you own your financial future.
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