Millennials – aka Gen Ys – are becoming the catalyst that drives America’s present and future.
Here are some fast facts about their financial power from Capital Group, one of the world’s largest investment management organizations.
Millennials are already the largest cohort of the the U.S. population, and as this group of largely under-25-year-olds moves into the 25-to-34 age range, they will be earning higher incomes. Annual spending by those in this age group is more than $18,000 higher per year, on average, than by those under 25. This generation grew up on the Internet, so a larger portion of their dollars will be allocated online for all sorts of goods and service.
So, how much do your know about the generational values, attitudes, and lifestyles of this financial powerhouse?