Everything about Millenials

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Over the next two decades, the United States will experience an unprecedented shift of demographics and finances that will likely be felt by every American. Baby Boomers, the generation of people born between 1944 and 1964, are expected to transfer $30 trillion in wealth to younger generations over the next many years. This jaw-dropping amount has led many journalists and financial experts to refer to the gradual event as the “great wealth transfer.”

Primary Generations Alive Today

Asset Distribution by Generation and Age

GenerationWealth (2019)Population (2019)Wealth/Person
Silent Generation & Older$18.8 Trillion23.0 Million$817,391
Baby Boomers$59.4 Trillion71.2 Million$834,270
Generation X$28.6 Trillion65.0 Million$440,000
Millennials$5.0 Trillion72.6 Million$68,871
Assets Held by Age (Percent of Total, 2020)70+55–6940–54≤39
Real estate21.6%20.5%27.6%37.9%
Consumer durables3.8%3.6%5.2%9.4%
Corporate equities and mutual fund shares24.6%23.1%18.6%8.1%
Pension entitlements16.3%25.0%21.9%21.0%
Private businesses7.9%9.7%12.1%8.1%
Other assets25.8%18.1%14.7%15.5%

Generational Investing Trends

  • 45% gen X says that their top financial goal at 27 was to buy a home compared of only 23% of millennials today
  • 67% millennial investors want a computer generated recommendation as a basic component of their investing platform compared to 30% of baby boomers and gen x
  • 66% of millennials are confident about investment opportunities in the next 12 months vs 49% baby boomers
  • 87% of millennials believe that environmental, social and governance factors are an important when deciding among investment opportunities, compared with 65% of Gen X and only 48% of baby boomers
  • 50% of millennials count on fintech startups to overhaul banks
  • 59% of millennials in the UK are likely to use an online platform to manage their saving
Reason for not InvestingMillennialsGen XBoomers
Recognize future outlook would be better if they start investing72%73%57%
Want to try out investing with a low money commitment35%31%25%
Afraid of losing everything42%29%28%
Too worried about current financial situation to think about future49%46%32%
Find information about investing difficult to understand63%59%55%
Don’t have enough money to start investing55%59%56%

Wealth Transfer Forecast

Millennial Fast Facts

  • 7 out of 10 millennials define financial stability as being able to pay all of their bills each month
  • Millennials feel to conform to the financial habits of their peers comes from social media, where financial milestones such as home and car purchases are routinely posted for all to see and envy
  • 4 out of 5 people aged between 18 and 34 in the US own smartphones
  • 4 out of 5 smartphone owners are smartphone shoppers
  • 84 per cent of them use their phones to help them shop while in a store
  • Prefer smaller specialty stores like Lululemon and Ulta rather than department stores, because they feel that they offer greater value for money and better service
  • Generation of convenience, who like to find something quickly and have it delivered to them fast
  • Value focus is still very powerful for millennials – enough to warrant them going to discount stores
  • Millennials look at ingredient labels a lot and try to buy fresh, organic and natural foods
  • Millennials today don’t care about cars: cities are growing, smartphone mobility provides freedom, and delayed family formation makes it easier to use public transport
  • millennials today don’t care about cars: cities are growing, smartphone mobility provides freedom, and delayed family formation makes it easier to use public transport
  • With less to spend, they’re putting off commitments like marriage and home ownerships.
  • “Which online activities do you regularly do for fun and entertainment?”: video games, IM/chat, download music/video, use social media, watch tv online
  • Millennials have been reluctant to buy items such as cars, music and luxury goods. Instead, they’re turning to a new set of services that provide access to products without the burdens of ownership, giving rise to what’s being called a “sharing economy.”
  • Millennials are turning to brands that can offer maximum convenience at the lowest cost
  • 57% of millennials compare prices in store
  • When marketing to Millennials, a strong brand isn’t enough to lock in a sale.
  • Millennials are turning to their online networks when making purchasing decisions.
  • Quality is still key for Millennials, but price is a more important factor than it is for other generations.


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