"Generation Y" is generally defined as Americans born after 1981, so the first wave of this generation is now moving into their 30s.
It's not too soon to start tapping into the special investment needs and concerns of this generation, especially if you provide advice to retirement plans. Recently, Forbes contributor Nancy Anderson authored a thought-provoking article called "The 401(k) Is Not Working for Gen Y, But It Can" and you can read it here: www.forbes.com/sites/financialfinesse/2011/10/20/the-401k-is-not-working-for-gen-y-but-it-can
"Gen Y never had a chance to learn about investing before they were jolted with a near 40 percent market drop in 2008," the author writes. As a result, Gen Y has become fearful of the stock market and is heavily emphasizing cash. Only 23 percent of Gen Y members say they are confident that their assets are allocated appropriately.
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