Video of the Day: Are Millennials Financially Screwed?
Ah, the mythical Millennial. Bloomberg sat down with a few to get their perspective on their financial lives in our Bisnow Video of the Day.
For starters, only 28% of Millennials have no debt. Some of the interviewees claim up to $130k in debt. 17% claim to be struggling, but don't worry because 41% are managing. The difficulty to save is reflected in increased rental rates, as fewer young people are able to purchase homes but want to live in urban areas.
Many of the interviewed Millennials would rather follow their passion than work for The Man. "We do have the ability, I just think that we have to be more creative about how we do it," one young woman says. "We make it harder for ourselves so we make it an interesting life." Just look at all those tech startups out there.
And although only 34% of Millennials expect to retire before 65, at least they're following their dream, right?
