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.
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