Another day, another random article declaring that Millennials are officially the laziest generation. Challenge accepted, you unoriginal media website. Watch us battle your stereotypes.
- “They’re more likely to live with their parents than previous generations”. Yes, because they’re smart and have started saving for the long term.
- “60% of Millennials leave their jobs before completing 3 years”. Quick growth and ambition — what’s wrong with that?
- “Millennials are spoiled because they’re quitting their jobs to travel abroad.” That’s just being young, adventurous, and #blessed.
We’re not hopping on the negativity train and, frankly, we don’t know why it exists. So we’ve pulled some positive stats about Millennials. We have them ready for when people spread rumors that our favorite food is mom’s grilled cheese (it’s really good, okay!).
Our Money, Ourselves
Just how powerful are we? By 2018, according to one study, Millennials will have the most spending power of any generation. Our consumer power is so immense, we’re even expected to eclipse Baby Boomer spending power with $3.39 Trillion by 2018. Take that, mom! Millennial consumer power means big things for the country, but Millennials don’t just buy things. We create. In 2011, Millennials launched almost 160,000 startups per month– that’s almost 2 million startups in a year! (Some of them definitely failed. Well, they can’t all be winners). Instead of waiting for someone else to build it, we built it ourselves. In the face of high unemployment, we created our own jobs and are working to help economic recovery. Don’t quite believe in the Millennial takeover? By 2025, 3 out of every 4 workers globally will be Millennials. We’re ruling the world and making great changes.
Walk the Walk
All that spending and brain power could mean serious growth for companies they love. Trying to get in on the action? Check out the Young Money investment. Young Money covers the primary sectors of consumption that Millennials are driving. We’re reinvigorating these industries and these companies are paying attention.
The Long and Winding Road (Travel)
Millennials travel more often than other generations for both business and leisure (4.7 and 4.3 times as much, respectively). We’ve even created a new word for it: ‘bleisure‘. 75% post to social networks at least once a day while traveling. But we’re not just doing it for the Instagram photos, we’re doing it for the experience. How many articles have you read about people quitting their job and traveling for a year to learn and grow? Yeah, it’s a Millennial thing. That’s why Expedia is one of the top ten holdings in Young Money.
Show Me the Money! (Shopping)
Everyone loves to shop, but Millennials are shifting the shopping experience for the better. Marketers and sociologists single out Millennials for being narcissistic and self-expressive. But, like generations before us, we just like what we like. The personalized online shopping experience is dominating e-commerce and companies like Amazon and eBay are excelling because they’ve mastered it. In 2015, consumers spent more than $3 billion during Cyber Monday, and Amazon was the most visited retail property that day. eBay and Amazon are some of the largest holdings in Young Money.
You Lookin’ At Me?
If you have swag and you know it, clap your hands. This investment may be for you if you recognize that Millennials are an increasingly important demographic of the consumer population and will drive consumer spending trends in the future. If you’re up on these new trends and think they can make major waves, then you’ll be familiar with the potential for economic growth harnessed in this investment.
Impress Me With Some Numbers
To learn more about Young Money, take a look at the underlying fund. It has an expense ratio of 0.68%. The fund is managed by Global X, one of the cutting-edge providers of ETFs. Young Money offers exposure to 73 companies.