Millennials (21 – 37 yrs) are the first generation that are financially less well off than our parents with ‘’lower earnings, fewer assets and less wealth’’ (Christopher Kurz, Geng Li and Daniel J Vine- 2018). As with all generations before, they bear the weight of parental expectation, however the world has altered significantly since our baby boomer parents came of age.
Some millennials have received a financial education of sorts from our parents – how relevant is this information today? No longer do they expect a ‘job for life’. They are told that the state pension won’t cut it and that they need to be conscious of saving from the beginning of their careers.