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“We also ask clients to complete a worksheet on their cost of living,” Grimes said. “This gives us a good idea of the amount of income they’ll need in retirement. We work back from there.
The authors assert the millennial generation (which they also describe as a hero archetype, born 1982 to 2004) shows many similar traits to those of the G.I. youth, which they describe as including rising civic engagement, improving behavior, and collective confidence.
Millennials, also known as Generation Y or Gen Y, are the demographic cohort following Generation X and preceding Generation Z.Researchers and popular media use the early 1980s as starting birth years and the mid-1990s to early 2000s as ending birth years, with the generation typically being defined as people born from 1981 to 1996.
Authors William Strauss and Neil Howe, who created the Strauss–Howe generational theory, coined the term 'millennial' in 1987. [15] [16] because the oldest members of this demographic cohort came of age at around the turn of the third millennium A.D. [17] They wrote about the cohort in their books Generations: The History of America's Future, 1584 to 2069 (1991) [18] and Millennials Rising ...
The study found that millennials who are median-income earners will be able to generate sustainable retirement income equal to 58% of their pre-retirement earnings, while median-income boomers ...
Millennials have had a number of economic factors working against them over the years. During the Great Recession, which lasted from 2007 to 2009, millennials — many of whom were in their 20s at ...
Millennials are hard working, resourceful, and imaginative. They readily take on and solve new problems and technologies with which they were previously unfamiliar with, and are known for their ability to fix problems. They were the first generation to grow up with computers and the internet, and are considered the first true "technology natives".
Growing up, millennials looked to parents, teachers, and coaches as a source of praise and support. They were part of an educational system with inflated grades and standardized tests, in which they were skilled at performing well. Millennials developed a strong need for frequent, positive feedback from supervisors.