Millennials Rising

Key Takeaways

  • This blog is now going to focus primarily on millennials and helping them improve their financial literacy.
  • Millennials will be inheriting more wealth at a younger age than any previous generation–and they’re generally not prepared.
  • As advisors, we’re in a unique position to help millennials and the older generations that will be passing on tremendous assets to them.

Millennials: Who Are They?

Key Takeaways

  • Today’s young adults are more cynical about the American Dream than are older generations.
  • Student debt, the high cost of living and a tepid job market are forcing millennials to delay the start of living independently, owning a home and saving for retirement.
  • Millennials have little confidence in the stock market, Social Security, conventional news media and the need for financial advisors—especially those charging AUM fees.
  • Don’t write them off; they’ll be inheriting over $30 trillion, and most don’t have financial advisors. Make sure your “webutation” is up to snuff.