Like you touched on, I don't think the author addressed the difference in wealth between previous generations and millennials. Housing, Education, Food, etc. have all increased in price, on top of that, the rate of inflation has increased while wages have practically stagnated. While going to Starbucks or getting fast food everyday might not be a great use of money, doing those things isn't the sole or even the majority of the reason why millennials aren't preparing for retirement.
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I agree my friend. The media does a poor job to connect the dots and provide a story containing historical facts and provide perspective. I don't think they want people to look and see -- they might want to hold people accountable -- yikes :-)