While millennials are now the 800-pound gorilla demographically in America, we remain one of the most poorly understood demographics in the country today. That’s why GenFKD, a nonprofit dedicated to informing millennials about economic policy and financial self-sufficiency, created the Millennial Money Survey.
Through a detailed set of strategically targeted questions, the Millennial Money Survey paints a better picture of the largest living generation in the United States. It was created to capture how individuals aged 18 to 35 are navigating the challenging economic and policy realities that make it difficult for millennials to thrive.
The Millennial Money Survey hones in on public policy topics such as health care reform and higher education, while also gauging the appropriate role of government in areas such as entrepreneurship and regulation. The survey also broadly measured relevant economic well-being, covering student debt, homeownership, investing and much more.
Key Findings
- Economic opportunity is still a problem: The GenFKD Millennial Money Survey reveals that our generation
continues to face unprecedented levels of unemployment and underemployment. Only about half of millennials surveyed feel economically secure.
- Economic opportunity is still a problem: The GenFKD Millennial Money Survey reveals that our generation
- A generation of aspiring entrepreneurs: Nearly two-thirds of millennials have wanted to start their own business.
- Millennials want smarter government: A total of 44 percent believe that government stifles small business, and 83 percent want government to promote entrepreneurship. Additionally, 59 percent think health insurance shouldn’t be required.
- Millennials have doubts about higher education: Nearly 40 percent said college degree didn’t help them find work. Only about 45 percent work in a position that requires a degree. Half of respondents had more than $10,000 of student debt.
- Millennials have little employer loyalty: Our survey indicates that millennials anticipate having an average of nine jobs over the course of their career. Additionally, 88 percent are open to continuing education to get the skills they need for a better job.
- Millennials want to be like past generations: The survey found 93 percent want to own a home, 75 percent want to live in the suburbs and 69 percent would own stocks and bonds if they had they money.
For more information on the GenFKD Millennial Money Survey, please contact Multimedia Editor David Grasso at david@genfkd.org
