According to this article in BusinessWeek the last decade hasn’t been particularly good for young adults at least in terms of household earning power.  From 1995-2004 the median net worth of young households (25-34 years old) rose only 1.3% adjusted for inflation, while at the same time the net worth of households 35-64 rose 40%. 

For some perspective it would be nice to know how much this varies from past decades.  I always assumed that peoples’ peak earning was in their 40s and 50s so you’d expect the household gains to be greater in older households. And as the article points out one of the reasons that older households have done some much better is because such a large percentage own their homes and the real estate market went nuts from 95-04.  So is the story that the gap between the two growth rates is much greater than in the past?

This just reaffirms what I’ve been thinking as I approach my 40th birthday; while being young was an awful lot of fun I don’t think I’d go back.  Being broke definitely sucked but here are a few other reasons:

• It took me over ten years to figure out how to be a relatively decent, housebroken husband and father.  I don’t EVER want to repeat that process again.
• While it was nice having a young body that seemed to bounce back from anything it tended to produce self-abusive behavior.  Toilets are not meant to be hugged.
• Sleepless nights spent dealing with babies.
• Mornings after sleepless nights spent dealing with babies when you didn’t wake up and now you’re dealing with one extremely pissed-off, overwraught wife.
• Tolerating bosses who were basically sub-human because I needed the money and health insurance.
• Not knowing that the terms "fine" and "dining" are not mutually exclusive.
• Believing the tag line "made from the finest Bavarian hops."
• Not knowing that Bavaria was not the last name of a NY Giants tight end…you know, Mark Bavaria.
• Not knowing how to tell someone to f—off with a smile on my face and get away with it.

I could go on but you get my point: young = dumb + broke.