Millennials are today’s largest-growing demographic and poised to take over as investors, consumers and leaders.
Know whom you will be serving soon—if you are not serving them already.
Percentage of Millennials who describe themselves as “conservative” investors: 43
Percentage of Millennials who could correctly answer four questions on a five-question financial literacy quiz: 18
Percentage of Millennials who want the option to have video meetings with advisors: 61
Percentage of Millennials who are concerned they have too much debt: 46
Percentage of Millennials who have engaged in costly non-bank forms of borrowing (e.g., pawn shops and payday lenders): 43
The average age of first marriage in the United States in 2014 for men and women, respectively, up from 23 for women and 26 for men in 1990: 27 and 29
Percentage of Millennials who say they would prefer to marry but feel they lack the necessary economic foundation: 69
Percentage of Millennials who agree with the statement, “Generally speaking, would you say that most people can be trusted?” 19
Percentage of baby boomers who agree: 40
Proportion of Millennials who believe that they will get no benefits from Social Security: half
Percentage of Millennials who say personal recommendations and word-of-mouth publicity influences their product purchases more than TV ads: 63
Percentage of Millennials who have earned a bachelor’s degree or higher, making them the most educated generation in American history: 63
Percentage of Millennials who think being an entrepreneur means having a certain mindset rather than starting a company: 90
Percentage of Millennials who either want to start a business or already have started one: 54
Percentage of Millennials who reject jobs from companies that ban social media: 56
Average tenure for Millennial employees, down from an average of five years for Gen X and seven years for Baby Boomers: 2
Sources: Pew Research Center; Time Magazine; Accenture; The FINRA Investor Education Foundation, The Financial Capability of Young Adults—A Generational View; Oracle; 16 Edelman Digital; Intrepid; Millennial Branding; oDesk; Kauffman Foundation for Entrepreneurship; Payscale; Cisco Systems.
