Every year, Fidelity Investments publishes its Millionaire Outlook survey, which analyzes the investing attitudes and behaviors of millionaires. And while the Millennials (or Gen Y as the survey refers to them) are not having the easiest time right out of the college gates, they do have some showing among the young millionaire ranks. Interestingly enough, the study groups Gen X and Gen Y collectively as “young millionaires” with investment traits significantly different than the Boomer+ millionaires. It is sometimes thought that class, or privilege, trumps the generational norms. That is, individuals at the far ends of the socioeconomic spectrum are… Read More
Categories: Charity, Financial Services, Menu 1Millennials are fond of “causes,” charities, philanthropies, non-profits, etc., and are responsive to cause-based marketing. But fundraisers for actual causes can find it difficult to solicit donations from a generation that has very little money. Thus, it’s hard to translate Millennials’ enthusiasm for global and community aid and movements into real benefits for charitable organizations. However, one clean water charity seems to have found a way to channel Millennial enthusiasm into real donations: it turns them into social media fundraisers. Mycharitywater.org found that what Millennials lack in funds, they can make up for with their fondness for social media and… Read More
Categories: Charity, Menu 1The debate continues as to whether Millennials are self-absorbed adult-olescents with an overblown sense of entitlement or whether they are community-minded citizens willing to chip in for the benefit of the environment and the world around them. A new survey of Millennials provides evidence for the latter, revealing that 75% of Millennials gave money to charity last year. In addition, 70% reported that they helped solicit donations to philanthropies or encouraged their peers to give. While that’s an impressive giving rate, the amounts given are less so. About 6 in 10 report that all their gifts were under $100, perhaps… Read More
Categories: Charity, Menu 1In an earlier post, we looked at the disconnect between Millennials’ nearly 2-to-1 support for the incumbent and their economic condition (struggling), which would typically incline them to vote against the incumbent. We noted that Millennials are not as dissatisfied with their status as many might believe and are driven in large part by social issues. Now, a survey by The Intelligence Group sheds some additional light by showing that Millennial voters are focused on the wider world and social causes more than their own economic condition. According to the survey, 73% of Millennials will base their vote for president… Read More
Categories: Menu 1, Recession Economy, Voting Behavior