StashLearn
Get the app
Get the app

Join millions of investors on Stash

Investing, simplified

Start today with as little as $5
Get the app
Money News

Want to Be a Millennial Millionaire?

October 21, 2019

2 min read

Millennials are often depicted as an avocado-toast eating generation that never quite leaves home.

But perceptions may soon change. In addition to becoming the most populous generation in the U.S., millennials will soon become one of its wealthiest groups.

A new report from the real estate company Coldwell Banker says the millennial generation now has 618,000 millionaires (nearly half of them in California), and they are expected to inherit a staggering $68 trillion from their Baby Boomer parents. The Baby Boom generation is considered the richest in history.

And this year, the number of millennials will also increase to 73 million, while the number of Baby Boomers—previously the largest generation—will decrease to 72 million. Meanwhile, by 2030, millennials in the U.S. are expected to control $20 trillion of wealth, five times what they have today, according to a new report from venture capital research firm CB Insights.

Apart from being a huge generational group, millennials are also a big opportunity for businesses, as they are currently one of the largest consumer segments.

Here’s a closer look at who millennials are:

Millennials also struggle financially

The Coldwell Banker report contrasts with other data that suggests millennials struggle to find jobs and have high amounts of student loan debt, as well as low home-ownership rates, among other difficulties.

The generations defined

Each generation has its own characteristics, but sometimes these are turned into stereotypes, often for marketing purposes.

GenerationDescriptionStereotype
Silent GenerationBorn between 1928 and 1945, this generation grew up following the calamities of the World Wars. They are called “silent” because they allegedly do not want to create waves socially or politically.
Baby BoomersBorn between 1946 and 1964, is one of the largest in U.S. history, born to post-World War 2 affluence and boom times. They are often called the “me” generation, for their focus on the self, and are sometimes criticized as mindless consumers.
Generation XBorn between 1965 and 1980. Their name comes from the Douglas Copeland novel “Generation X,” about youth not quite fitting in with larger society, and who are ambivalent about life paths, and bored with meaningless jobs.
MillennialsBorn between 1981 and 1996. (Also known as Generation Y.)Viewed as spoiled and entitled, they are also lauded for prioritizing meaningful careers and experiences.
Generation ZBorn from 1997 to the present. To be determined!

Hooked on Stash? Tell your friends!

Get $5 for every friend you refer to Stash.

Refer friends

Hooked on Stash? Tell your friends!

Get $5 for every friend you refer to Stash.

Refer friends

By Stash Team

Investment Profile

Bonds Worldwide

An International Bond ETF on Stash

Learn more
Explore more articlesChoose a topic to learn more about
budgeting market news social media love and money Retirement
Disclaimers

This material has been distributed for informational and educational purposes only, represents an assessment of the market environment as of the date of publication, is subject to change without notice, and is not intended as investment, legal, accounting, or tax advice or opinion. Stash assumes no obligation to provide notifications of changes in any factors that could affect the information provided. This information should not be relied upon by the reader as research or investment advice regarding any issuer or security in particular. The strategies discussed are strictly for illustrative and educational purposes and should not be construed as a recommendation to purchase or sell, or an offer to sell or a solicitation of an offer to buy any security. There is no guarantee that any strategies discussed will be effective.

Furthermore, the information presented does not take into consideration commissions, tax implications, or other transactional costs, which may significantly affect the economic consequences of a given strategy or investment decision. This information is not intended as a recommendation to invest in any particular asset class or strategy or as a promise of future performance. There is no guarantee that any investment strategy will work under all market conditions or is suitable for all investors. Each investor should evaluate their ability to invest long term, especially during periods of downturn in the market. Investors should not substitute these materials for professional services, and should seek advice from an independent advisor before acting on any information presented. Before investing, please carefully consider your willingness to take on risk and your financial ability to afford investment losses when deciding how much individual security exposure to have in your investment portfolio.

Past performance does not guarantee future results. There is a potential for loss as well as gain in investing. Stash does not represent in any manner that the circumstances described herein will result in any particular outcome. While the data and analysis Stash uses from third party sources is believed to be reliable, Stash does not guarantee the accuracy of such information. Nothing in this article should be considered as a solicitation or offer, or recommendation, to buy or sell any particular security or investment product or to engage in any investment strategy. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission. Stash does not provide personalized financial planning to investors, such as estate, tax, or retirement planning. Investment advisory services are only provided to investors who become Stash Clients pursuant to a written Advisory Agreement. For more information please visit www.stashinvest.com/disclosures.