In a 2020 analysis, the organization reported that more than one-third of Millennials would not be able to come up with $2,000 within 30 days of an unexpected emergency.įinancial experts recommend putting at least three months’ worth of expenses into a contingency fund. On top of this, the average Millennial’s daily expenses total $208.77 - the highest of any generation.Īs the TIAA Institute reports, Millennials have high levels of debt, low levels of savings, and expensive money management choices. In 2020, the US Census Bureau reported the median Millennial household income (pre-tax) was just over $71,000.Īnother source, PayScale, reports that “real wages” (wages with inflation factored in) have fallen more than 10% for Millennials between 33 and 40 years old since 2006. In fact, the typical Millennial holds 41% less wealth than an adult of the same age in 1989. More than one-third of Millennials overall, and two out of five Millennial women, have a college degree.įemale millennials lead all other generations in terms of college education, surpassing Gen Xers by double digits.ĭespite all of these educational accomplishments, this generation is “on a much lower trajectory of wealth accumulation than their parents and grandparents,” according to New America. Millennials are the most educated generation ever. What does all of this mean for past and future generations? Keep reading to see seven key trends that will drive the Millennial generation in the coming years. Millennials are busy traveling, paying off student loans, and turning away from traditional societal norms. However, the trends in this report show that the exact opposite is happening. If we expect them to follow in the footsteps of previous generations, they should be settling into their careers, getting married, and having children. More than 72 million people in the United States are Millennials.
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