Millennial problems

Millennials show a significant lack of confidence in their financial knowledge, highlighting a critical need for comprehensive financial education, according to NOYACK's 2024 Millennial Wealth survey.

Many millennials avoid working with registered investment advisors, carry a substantial amount of debt, and exhibit a strong preference for alternative investments (ALTs).

"Millennials, raised in a world of promise but facing realities that pull in every direction, often encounter major life transitions with a unique set of hurdles," said CJ Follini, Founder and CEO of investment firm NOYACK. "They're carrying unprecedented student debt, thanks to a college-or-bust mindset, and navigating a housing market that's stacked against them. The 2008 crisis set many back before they even started, slowing down career progression and delaying financial independence—homeownership has become more of a distant goal than a rite of passage.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.