Five Statistics to Help You Better Understand Generation X and Millennials
Generation X (born 1965-1981) and Millenials (born 1982-1994)
1. Both Generation X and Millenials will have approximately $18 trillion in assets flow into their hands between 2017 and 2052!
Start to understand your finances, your options and your hurdles from a personal finance standpoint. If you don’t take on this responsibility, then this wealth won’t be passed on to other generations.
2. The average Millenial carries $45,000 in debt!
Try using your quarterly or annual bonuses solely towards decreasing your debt. Pay off the smallest amount first, in order to get a psychological boost.
3. Half of both generations don’t believe that Social Security will exist when they reach their retirement age.
We must begin to build up our net worth today and try to create an income stream that is sufficient without Social Security. If SS still exists, then that is just icing on the cake!
4. Only 6 in 10 Millenials have jobs, half of which are part-time!
Don’t get down if jobs aren’t available right away. Utilize sites like Monster, LinkedIn and your University career center to help locate employers in need of employees. Make sure you don’t underestimate the power of networking!
5. 36% of Millenials believe that the main priority of a business should be to improve society.
If companies can find an innovative way to improve society, then profits will flow to those searching to make their customers’ lives better.
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