Posted by on January 6, 2017 11:55 pm
Tags: , , , , , , , , , , ,
Categories: Bloomberg L.P. Business Culture Demographics Economy Finance Fresh Start Generation Generation X Generation Z Mic Millennials money

When asked about the economic outlook for America, millennials were the only generation to predict 2017 would be worse than 2016. As Bloomberg reports, the feeling of impending doom wasn’t exclusively reserved for 2017: about a third of millennials surveyed said they don’t think they’ll have enough money to comfortably retire at all.

While the new year marks a fresh start for many, millennials aren’t so optimistic.

In fact, this generation is the only one to say they’re feeling worse, financially, about 2017 than 2016.

As Bloomberg details, in the days following the election, Country Financial Group, an insurance and investment firm, conducted its annual financial security index and found that the score was lowest for millennials, defined as those between 18 and 34 years old, at 60.9 (the highest score is 100).

To determine its score, used a survey that asked over 1,000 Americans questions about their financial stability, like whether they had savings, or if their assets were adequately assured. Independent research firm GfK collected the data. Generation X-ers, (people aged 35 to 49), had a score of 66.6. Boomers (between the ages of 50 to 64) came in at 69.2. The Silent Generation, defined as those over age of 65, had the highest score at 71.2.

As Bloomberg notes, given that the poll was conducted in the days following the election and millennials overwhelmingly supported the losing candidate, these survey results might be swayed by some election-related depression.

Leave a Reply

Your email address will not be published. Required fields are marked *