Mar 27, 2019millennials,financial planning,financial wellnessSA-Articles
The path to financial security for millennials is much different than their parents’ generation.
Half of millennials worry about their financial future, yet only 32% work with a financial advisor.
Financial advisors can help their millennial clients navigate the financial landscape.
For millennials, the path to financial security promises to be rockier than it was for the generations that immediately preceded them. Hammered by the 2008 financial crisis, faced with crushing student loan debt, and having watched employers freeze or eliminate their traditional pension plans, many millennials envision a long road to retirement.
At a time when many millennials are undergoing big changes in their personal lives – getting married, buying homes, having children – they’re paying attention to their financial situation and what they need to do to improve it. Having access to sound financial advice will be critical for millennials to achieve financial wellness.
Prudential commissioned Kantar Futures to survey millennials about their outlook on work and career, health and wellness, personal finance, and technology. Some findings:
1. Millennials predict a rise in gig/freelancing work, which presents financial wellness challenges.
2. Millennials foresee a high-tech, high-touch future.
3. Millennials are nervous about rising educational expenses.
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