Living through a (near) depression will do that to you.
> By 2020, Millennials will comprise more than one of three adult Americans. It is estimated that by 2025 they will make up as much as 75 percent of the workforce. Given their numbers, they will dominate the nation’s workplaces and permeate its corporate culture. Thus, understanding the generation’s values offers a window into the future of corporate America.
BS. Figures are skewed based on the author’s biased view, flawed logic and information. Everybody knows thar robots will have already taken over their jobs and dominated the workforce...
I really think Millenials are going to give the Boomers a run for their money in terms of being the most screwed up, nation destroying generation.
Born in a time of wealth, then overprotected and coddled. Thrown into a collapsing society and burned at a critical point in their development. They’re so twisted at this point that they have cult-like PTSD reaction to anything that might improve their condition or the condition of the country. The Manchurian Candidate generation.
Of course they would say money is not the best measure of success. They have no money and everyone wants to believe they are successful.
Also, those who would rather have a $40k job they love rather than a $100k job they are bored in will say that. They know they will never be offered a $100k job.
Already some good comments!
I’m no finance guru but a few things stood out to me:
“The survey also showed Millennials keep more of their assets in cash…”
I understand the fear and the need to be a “saver” but considering what’s happening to the value of our money that can’t be the best strategy can it?
“The odds of a significant bout of inflation now are about the same as they were in 1929. Next to none.”
Really? Look at food prices and energy just to name two and tell me there’s no inflation - and these two areas (especially if liberals keep control in 2016) it seems will continue to get worse.
“Millennials said they would rather make $40,000 a year at a job they love than $100,000 a year at a job they think is boring.”
Well, if you’re still living with your parents and are single I guess that would work but if you ever want to be independent from them, a little boredom might be a game changer. I suppose there are those that might be taking the “long term view” just waiting for them to die so they can get the house and their car! What I don’t see (yet) is Millennials waking up politically. There are reasons why these terrible conditions exist in our country and failed policies by both parties that have brought us to this point.
1. “the most conservative generation since the Great Depression” with regard to its savings habits. According to UBS’s research, the average investor aged 21 to 36 has 52 percent of their savings in cash, compared to 23 percent for other age groups.
Keeping your assets in cash is not conservative. However, the statistic is probably misleading. Younger people have less savings. If your savings are $20K or less, you are more likely to just keep the money in cash because making other investments requires time for research and monitoring, and the payoff of an additional few points of return on 20K is not worth the investment of time. If your savings are more than $200K, it starts to make sense to spend the time it takes to invest more wisely.
2. In ten to twenty years, when this generation realizes how it has been lied to, propagandized and brain-washed by the media/government/academia complex, cynicism may become so profound and widespread that the country will become ungovernable. Already, according to the article, "Only 19 percent of Millennials agreed with the statement that 'most people can be trusted,' a percentage that was about half of all other older generations." Wait 'til they figure out the tax and debt policies followed by Obama and the Democrats -- and find that they are stuck with the bill.
“Millennials will assist aging boomers via taxation and by overpaying for Obamacare.”
Not my millennial, nor most of her friends and acquaintances...
I taught her better than to do that.
She also learned by direct experience that her own personal involvement and actions matter, more so than throwing away her hard earned wages to a corrupt government and/or corrupt NGO charity.
Gen X bump
The enormous economic crash which is coming? The hyperinflation? The massive default from all major economies around the globe?
Not Obama's fault. Not the fault of the World Bank, the IMF, the Fed, or Goldman-Sachs.
It's ... uhhhh ... it's ... ummmm ... it's those kids in their 20s. They're just messin' up everything.