Pakistan, April 15 -- Millennials, born between 1981 and 1996, are the most educated generation in U.S. history. About 40% hold at least a bachelor's degree. However, they face serious financial challenges, earning 20% less than baby boomers did at the same age.

The soaring cost of college is a major factor in millennials' financial struggles. Many graduates start their adult lives with significant student debt, averaging over $37,000. This debt delays important milestones like buying homes, getting married, or starting families.

Additionally, while wages have largely stagnated, the cost of living has skyrocketed. Millennials often pay high rent in cities with job opportunities, making it hard to save money. Many now live paycheck to pa...