20. Millennials, Money, Recessions and Planning Strategies – Looking Ahead

Millennials have had to suffer the double whammy of the global financial crisis of 2007-2008, and now the economic repercussions of the Covid-19 pandemic.  A person is referred to as a “millennial” if they were born between 1982 and 2000 (ages 20 to 38) according to the US Census Bureau.   Believe it or not, some older millennials are approaching that middle-age mark of 40!  As a mother of three millennial daughters, I think millennials often are unfairly maligned as selfish, entitled, and not mature adults.  But they are no longer mainly college kids or recent college grads, they are professionals, parents and represent a quarter of the U.S. population. Sources: https://www.census.gov/newsroom/press-releases/2015/cb15-113.html https://www.wsj.com/articles/young-americans-are-still-catching-up-from-the-last-recession-now-theres-a-new-one-11587170863 https://www.investopedia.com/insights/how-financial-crisis-affected-millennials/ https://www.pewsocialtrends.org/2012/02/09/young-underemployed-and-optimistic/ https://www.wsj.com/articles/millennials-covid-financial-crisis-fall-behind-jobless-1159681147 https://www.nbcnews.com/business/business-news/millennials-had-barely-recovered-great-recession-then-came-pandemic-n1232488 https://www.investopedia.com/insights/how-financial-crisis-affected-millennials/ Links mentioned in this episode: TheBahnsenGroup.com TheFiscalFeminist.com