This wasn't "new news" to me today but I am glad it is making headlines. This goes back to the problem of not educating our young people on financial literacy. It's hard to believe young people can graduate high school, and even college, without ever taking a required course on financial literacy.
Financial literacy isn't taught in schools, and in most cases it's not taught in the household - although this new report shows exactly why it shouldn't be taught in the household.
Save money. The younger you start, the better.