Financial Advice for the Millennial

The Millennial Generation is here.  This generation is the largest generation in U.S. history.  Millennials are born approximately between 1980 and 2000.   By the year 2025, this age group will comprise about 75% of the global workforce.  They have been molded by events such as 9/11, the Great Recession and one of the fastest growing technological eras in history.
So what does this mean?  In short, these events have created a somewhat conservative, highly technology driven, introverted, goal oriented individual.  They are very similar to the Silent Generation actually.  Which, believe it or not, means that Millennials are the most financially responsible generation since the Great Depression.  This recession has scarred these individuals to where they are much more apt to saving their money due to their experiences with this less than stellar job market.  In fact, 75% of them say they are savers instead of spenders according to Market Watch.
As financial advisors, there needs to be a drastic change in how we work with Millennials, as opposed to their parents and grandparents.  Conte Wealth Advisors is making large, yet careful changes to our processes in order to be proactive for this massive generation entering the work force and starting to visualize their goals.  We have invested a lot in our technology, planning processes and marketing strategies.  We are ready.
The Baby Boomers and the Gen X’s hopefully have learned a lot from this Great Recession in the last couple of years.  Conte Wealth Advisors is making it a priority to connect with the Millennial generation early, to get them started on the right foot so that they make the right decisions avoiding the pain of losing their homes, jobs and retirement savings.   When the next dip, recession, or correction occurs… they will be ready.