millennials are still focused on achieving the American Dream—although their notions of what to do and how to do it financially aren't necessarily the ones that will get them the best results. (Photo: iStock)

Millennials have been pretty well pummeled by finances, having seen their elders hammered by the market crash and Great Recession and then themselves been caught up in their own financial nightmares of low salaries, high student debt and seemingly impossible financial objectives. Yet, according to the Bank of the West 2018 Millennial Study, millennials are still focused on achieving the American Dream—although their notions of what to do and how to do it financially aren't necessarily the ones that will get them the best results—or the ones that other generations had in their time. Related: Millennials have different views about retirement, longevity, finances Despite how tough millennials have it financially, 57 percent say they've either already achieved the American Dream or believe it's still attainable. That doesn't mean there aren't cynics among them, of course; 23 percent say they once believed in it, but no longer do, 13 percent say they never bought into the notion and 7 percent—pessimists all, apparently—say it never was or never will be attainable. But what, exactly, makes up the American Dream for millennials? The top four elements they seek in their quest are owning a home, being debt free, retiring comfortably and being able to pursue a passion. Interestingly, marriage, children, making it on their own and even owning a car are much lower on the list, with 4 percent of millennials saying they don't have an American Dream. Oh, and apparently women are bigger dreamers than men, since there are more elements in millennial women's versions of the American Dream than there are in men's versions. In addition, having children and getting married, in that order, are actually lower on their lists than building a satisfying career and making a difference. The only two categories in which men's ambitions outpaced women's are earning a big paycheck (28 percent of millennial men aspire to this, compared with 26 percent of millennial women) and working for oneself/owning a business (26 percent of men, compared with 19 percent of women. If there's one thing noticeable about millennials, it's that they have conflicts and contradictions about what they believe and what they actually do. They think they understand some financial intricacies pretty well, but when push comes to shove they do something completely different that can undercut their best interests. And this holds true for some of their top American Dream elements, too—from homebuying to debt to investing and retirement. In fact, here are some of the findings of the study, along with how some of their beliefs have influenced their actions and outcomes.