Report: Millennials have average net worth of $8,000

SAN FRANCISCO -- In new research from accounting giant Deloitte, millennials are doing far worse financially than previous generations.

In fact, the average millennial has a net worth of only $8,000.

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For clarification, millennials are those between the ages of 18 and 35.

Deloitte says, for this group, net worth has dropped 34 percent since 1996.

The main reasons are education, housing, health care and transportation.

Deloitte claims because of declining net worth, millennials are putting off important life decisions such as home-buying and marriage.