Millennials

/Tag: Millennials

Will Robo-Advisors And Chatbots Eliminate The Need For Financial Literacy?

OBSERVATIONS FROM THE FINTECH SNARK TANK According to one banking industry expert: Traditional methods for financial education are a waste of time when it comes to helping Millennials plan for their financial futures--instead, credit unions should share financial advice that helps Millennials get through the week or month, and relaying that information through mobile platforms and

What are Americans’ top financial goals in 2019?

Most Americans have some type of financial goal, including paying down debt or budgeting better. A recent study by Bankrate shows that most families don't have enough money saved for retirement or short-term emergencies. Americans’ top financial goals for 2019 Pay down debt  30% Budget spending better  13% Save more for retirement  12% Save more for emergencies 

Millennials are already behind in their savings for retirement

Imagine a millennial fretting about the rising cost of avocado toast on the way to work, circa 2062. It's the scenario being floated by a new study from Aon that says millennials are already behind in their retirement saving. The report from the risk, retirement and health consulting providersays most won't be able to retire until

Fintech savvy no substitute for financial literacy, finds study

Millennials’ usage of smartphones can’t fill gaps in their financial literacy, according to a new report. The study, titled Millennial Financial Literacy and Fin-Tech Use: Who Knows What in the Digital Era, comes from the TIAA Institute and the Global Financial Literacy Excellence Center (GFLEC) at the George Washington University School of Business. It assessed individuals’

Millennials don’t trust the financial industry. These startups want to change that.

One spring morning in New York City’s Financial District, several besuited men couldn’t help but stop and gaze at a rather out-of-place sign hanging from the New York Stock Exchange building. “Follow us on Pinterest!” read the enormous red banner. A few weeks later they stopped again, this time in front of a yellow sign

3 Things Employers Should Know About Financial Wellness Services

The job market is booming and employers are competing to attract and retain the best workers. This charge gets even trickier when looking at millennials. A recent study showed that nearly half of millennial employees said they would like their employer to provide additional help with financial matters, proving that there is a need for holistic benefits

Millennials are leading an investment revolution

Nuveen’s Third Annual Responsible Investing Survey of over 1,000 affluent investors found there is increased interest in working for, buying from, and investing in socially responsible companies. This is even more true among the millennials surveyed. 92% of millennials agreed with the statement “I care more about having a positive impact on society than doing well

Money 101 For Millennials: Seven Tips For Improving Your Financial Literacy

When young adults become fully responsible for their personal finances for the first time, they're often in for a rude awakening. Financial literacy is rarely taught in school, and if their families didn't discuss credit scores, taxes and interest rates as they were growing up, these newly-minted members of the "real world" can easily get

Why this could be one of the best ways to invest in America’s future

Millennials, the generation born between the early 1980s and the mid-to-late 1990s, make up about one-third of today’s U.S. workforce. They are better educated than previous generations, with a greater proportion of them possessing a college degree. Because they have lived through the Great Recession, they are more risk averse. They are also more likely

More & More Millennials Choosing Socially Responsible & Moral Investing

Over three-quarters of Millennial investors are currently choosing to or are interested in investing their finances in socially responsible and impacting investment options that aim to create positive change in the world, according to a new report published by investing platform Swell Investing. Swell Investing — “an impact investing platform that aims to deliver profit as

Millennials are set to be the most unequal generation yet

In an economic climate where the top 1% own half the world’s wealth, a new analysis by Credit Suisse suggests that millennials in several advanced economies are likely going to face the worst income inequality of any generation in recent memory. The report, which focuses on the US, Germany, France, and Spain, shows that millennials are generally saddled

Entrepreneurs Want To Change The World More Than Ever

More “elite entrepreneurs” around the world consider making a positive impact on the world a central feature of what they do in business, sometimes almost as important as breaking even, particularly when Millennials are concerned, a global survey of high- and ultra-high net worth entrepreneurs by BNP Paribas Wealth Management has found. The French bank’s Global Enterprise

To Budget Better, The First Step Is To Admit What You Don’t Know

Today, Millennials are increasingly negotiating salaries, paying off student loans, and paying rent or a mortgage. Some are also beginning to save for their children’s college educations. All of this makes budgeting paramount, yet the overwhelming majority of Millennials fall short when it comes to financial literacy. In a study conducted by the National Endowment for Financial Education and

Will FinTech Spur More Millennials to Invest

Today’s morose Millennials, criticised for potentially killing the NFL and the napkin industry, are tomorrow’s financiers. Worse than killing the NFL and napkin industry, Millennials broadly feel indifferent towards finance. This sets a poor precedent for the future. However, there is light in the darkness as FinTech offers the opportunity for today’s youth, across the world, to get

Millennials and Women Are the New Faces of Giving

Two client segments—millennials and women—are ahead of the philanthropic curve, and their more inclusive, strategic approach means a sharper focus for giving and a greater impact for investing. Making an Impact The benefits of incorporating strategic philanthropy, which seem so evident today, didn’t happen overnight. Philanthropy has steadily increased since 1954, and the single largest

How The Financial Landscape Disadvantaged Millennials

Before knowing if we’d grow up to be journalists or engineers, we all learned to write essays and add fractions. We would for certain grow up to pay taxes and build credit, yet few learned to read financial forms and phrases. Now as adults, 57% of us struggle with financial literacy—and it’s not our fault. We grew

8 financial mistakes that millennials make

Unfortunately, young people are not as financially literate as they'd like to believe. My generation of Millennials is notorious for thinking we've got it all figured out, but according to a recent study on financial literacy, we're not nearly as clever when it comes to money management as we'd like to believe. Only 8 percent of 5,500 Millennials

Millennials are driving a shift in how the ultra-wealthy manage their money

Regular people put their money into a savings account or hand it over to a financial adviser to manage. But the wealthiest tend to pull out a few more stops, and in some cases establish entire teams, referred to as family offices, that are staffed with financial professionals dedicated to building and managing their vast wealth. A new