According to a study by Forbes and Elite Daily, Millennials are coming into their own. This demographic comprises 80 Million Americans, a fourth of our entire population. They wield $200 billion in annual buying power. Many of my clients fall into this group and I find they embody many characteristics that I admire. It got me thinking about this generation — dubbed the Me Me Me Generation and the Next Greatest Generation — and their habits and attitude about money. My research led me to have an interesting conversation with my 21-year old son.
What’s Real and What’s Not
Here in Silicon Valley things are booming. Our economy is experiencing growth. Home prices are surpassing historical records and the unemployment rate is low. You can see the frenetic energy every day — clogged freeways and expressways during our daily commutes and workers spending long hours tied to their desks.
With our economic upswing, are we using our financial success to pay down debt and use our credit wisely?