We break down the average net worth of millennials by age, as well as stretch goals to be in the top 1% of millennial wealth.
How rich would millennials be if they always maxed out their 401k contribution each year, starting from their first year of work?
Watching your finances can be challenging. The process requires time and discipline. Finances can be particularly difficult for college students and people who are starting careers. Your smart decisions about finance now can have a huge impact over your lifetime. Create a plan When faced with a challenging problem, it helps to have a plan. […]
It’s surprising to think that people don’t realize certain things. Over 8 years of blogging, I’m constantly surprised. That’s okay, it gives me a lot to write about. Over this time, I’ve seen some trends – yes, this is a trend and doesn’t apply to every single person – but millennials just don’t know certain […]
Being young, retirement seems like it’s so far away. But in reality, it’s getting farther away every year for most millennials. In 1993, the average retirement age in the United States was 57. Today, the average retirement age is 62. In those 20 years, people are now working an average of 5 years longer. However, […]
Millennials are just starting to consider hiring financial advisors en mass, and many different types of financial advisory firms are starting to market specifically to young adults. Some of these are online services like we’ve reviewed here: WiseBanyan and iQuantifi. Others are more traditional firms, like Sophia Bera’s Gen Y Financial Planning, but even these firms mix […]
As money-wise millennials, we have a lot of goals in mind as we graduate from school, get started with our careers and think about what we want our finances to look like in the coming years. One financial consideration that often gets pushed to the periphery is life insurance. You may be asking isn’t life […]
We millennials are a different generation when it comes to money and investing. We grew up in the face of two huge economic events: the tech bubble and the housing crisis. We grew up in a decade of war overseas. And we have been growing up in a world of increasingly polarized news — it’s the news, […]
Student loan debt is a real problem in the United States — reaching a balance of $1 trillion. Plenty of young people graduate from school with thousands and thousands of dollars in unpaid student loans. While the interest rates are low, people still struggle to make the minimum payments. While this is a real problem, […]
If you’ve been paying attention to any financial news this last week, you know that stocks have been nearing their five-year highs. Whenever the stock market reaches a new high, it always creates two different arguments: Bears: Stocks have reached their peaks – sell, sell, sell! Bulls: Stocks have room to grow – buy, buy, […]