What’s next for Millennials? As this generation ages, their financial attitudes and behaviors will shape investing and economics for decades to come, so understanding the forces which influence their decisions benefits professionals who work with this new set of investors.
This research focuses on Millennials with minimum annual incomes of $100K (single) or $150K (married/partners). Although most of our studies use household net worth to qualify survey participants, this study seeks to learn more about high income Millennials and their financial needs and challenges. These young adults will likely be future high net worth investors and clients.
The study will examine, in detail, the following topics about Millennials and their financial attitudes:
- How do High Income Millennials define success in life? How do they define the American Dream?
- How has their financial situation impacted life decisions such as marriage, buying a house and starting a family? How has current/past student debt impacted their finances and investing decisions? Do they have a financial advisor?
- How did they find their financial provider and what services do they most want from their financial provider?
- What are the technology expectations they have from advisors and providers, such as account aggregation, website capabilities, budgeting tools and educational content?
- How has their knowledge of technology has impacted their use of human and robo financial advisors?
- Which investment products do they own and/or have interest in, such as socially responsible investment products? Life insurance products? College savings plans? Health Savings Accounts?
- How much has the Economic recession of 2008-2009 impacted their opinion of investing? How risky do they feel the stock market is, and what factors do they consider when making investment decisions?
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