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What Millennials Can Teach Boomers About Financial Planning . Northwestern Mutual Contributor, Northwestern Mutual . Auto leasing just hit all time HIGH!
By Sonya Stinson
At first glance, it’s hard to see what Generation Y—a.k.a. the Millennials—can teach Baby Boomers about financial planning? Many of the youngest Millennials are buried in a TRILLION dollars of student
2) haven’t moved away from home
3) Cant get a job
4) and probably the most disparage generation in the history of the human race!
Wait a minute
1) Leasing hit all time high! Smart
2) Home purchase down by millineals! Smart
3) Investments in 401K down — Smart
They aren’t buying their mom and dads BS planning
4) Use Credit Cards with CautionAccording to credit score provider FICO, Millennials were more likely not to have a credit card than any other age group. In 2012, 16 percent of 18- to 29-year-olds did not have credit cards, compared to 8 percent or lower for the older age groups.
5) 50% don’t trust govt programs going forward
In Northwestern Mutual’s 2013 Planning and Progress Study, nearly a quarter (24 percent) of Gen Y respondents identified themselves as “highly disciplined” financial planners.