The children of the 1960s and 1970s will only be better off than the previous generation when they retire due to inherited wealth, the Institute for Fiscal Studies has found.
It marks the first time incomes and living standards fail to rise since the end of the Second World War.
On average they will have no higher income or savings, will be less likely to own a home and will have smaller private pensions than their predecessors from 10 years earlier.
The only respect in which people born in the two decades from 1960 will be better off is that they are more likely to inherit.
More top news
Five characters from The Beano comic have made fun of a new movie from Pixar whose stars bear an uncanny resemblance.
The 'Voiceover Man' behind the iconic booming announcements on the X Factor has announced he is leaving the show after 11 years.
It's looking to become drier and brighter by the middle of the week but in the meantime we might need a bit of patience.