Millennials (also known as Generation Y) are the generational demographic cohort following Generation X. There are no precise dates for when this cohort starts or ends; demographers and researchers typically use the early 1980s as starting birth years and the mid-1990s to early 2000s as ending birth years.
Millennial Millionaire Money Moves
Although they have frequently been labeled as materialistic, spoiled and saddled with a sense of entitlement, many Millennials feel that they will not be able to achieve material goals like finding their dream job, buying a house or retiring until much later in their lives than their parents did.
Paying off student loan debt has become increasingly difficult for many who are struggling with unemployment and low-paying jobs.
The recession left over 15% of Millennials in their early twenties out of work, many of whom are still struggling to get their feet on the ground. This will hurt them long after they do get work.
Economic studies of those who were unemployed during the recession in the early 1980s revealed that they were still behind schedule financially 20 years later.
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