A Harvard Kennedy School poll found 43% of Americans aged 18-29 struggling financially, with only 30% believing they’ll be better off than their parents. Personal finance expert Ramit Sethi criticized outdated advice from Dave Ramsey and Kevin O’Leary, claiming the system is stacked against young people in terms of pensions and housing.

Sethi argues that boomers benefited from a different financial system, with pensions and affordable housing, creating wealth that is now inaccessible to younger generations. Companies no longer fund retirements, and the shift to DIY retirement has made it harder for workers to achieve financial security.

The disappearance of traditional pensions has made it difficult for workers to achieve the American Dream. Sethi highlights the housing disparity between boomers and younger generations, with boomers buying multiple investment properties and restricting housing supply for younger buyers.

Sethi advises young people to focus on earning more, saving and investing consistently, and making conscious financial choices. He suggests negotiating higher salaries, automating savings, and avoiding fear-based financial strategies. Seeking advice from a qualified financial advisor can help create a personalized plan to achieve financial goals.

Read more at Yahoo Finance: Ramit Sethi says advice from Dave Ramsey and Kevin O’Leary is outdated. Here’s what you should focus on