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
Nearly 38,000 runners will hope to complete Sunday's London Marathon making it the biggest event in its 35-year history.
Rain across central Britain with longer, intense downpours with thunder in places this evening. A lucky few will stay sunny and dry.
Planning on going to the London Marathon tomorrow? Read our handy guide first!