Sign up for Otis with my link: https://withotis.app.link/GrahamStephan and get your first share FREE when you fund your account – terms apply. Here is why Millennial Net Worth has been declining – Enjoy! Add me on Instagram: GPStephan
GET YOUR FREE STOCK WORTH UP TO $70 ON PUBLIC & DEPOSIT $100 FOR A CHANCE TO GET A FREE SHARE OF TESLA – USE CODE GRAHAM: https://gstephan.co/public
THE NEW PODCAST: https://www.youtube.com/channel/UCMSYZVlQmyG8_2MkIKzg0kw
The YouTube Creator Academy:
Learn EXACTLY how to get your first 1000 subscribers on YouTube, rank videos on the front page of searches, grow your following, and turn that into another income source: https://bit.ly/2STxofv $100 OFF WITH CODE 100OFF
This is a sponsored ad from Otis. Securities offered through Dalmore Group, LLC, member FINRA (www.finra.org) member of SIPC (www.sipc.org)
Disclaimer: http://withotis.com/ow-disclaimer
Offering Circular: https://withotis.app.link/Offering Circular
Millennial Net Worth:
CNBC reports that, in 1989, when baby boomers were around the same age as millennials are today…they controlled 21% of the nations wealth, which is almost 5X HIGHER than Millennials own, today – here’s why:
1. Student Loan Debt
On average, the cost of a college education has risen 65% in the last 10 years. Alongside that… wage growth – on average – has only gone up about 26% in the last 10 years…And to make matters worse…on average, millennials who graduate with a student loan have a debt of more than $30,000. In 1970, only 16% of people had a college degree or higher, and today, nearly 40% of millennials in the workforce have a bachelors degree. This means that, back then, not only was college CONSIDERABLY less expensive than it is today, but it was FAR more exclusive and demanded a much higher salary.
2. Millennials are not investing.
In fact, it was found that 43% of millennials are just straight up NOT investing anything…and almost 50% of them are WAITING to invest until they earn more money. Unfortunately, it appears that the main issue behind all of this…is simply just a lack of education, and the proper guidance in terms of HOW TO invest – which can be incredibly simple.
3. Lack of Home Ownership
Millennials have been 8% LESS LIKELY to own real estate than previous generations for several reasons: first, being home prices. It’s said that millennials are paying a median price of $328,000 for a home…while baby boomers only had to spend $216,000…adjusted for inflation….in 1989. Because of that, nearly one fifth of millennials said they planned to rent forever…and of the millennials who DO plan to buy a home…63% have no money saved up for a down payment.
Second, student loan debt. The cost of tuition is up…wages are down…and, in turn, even if you DO have a job – you’re making less, comparatively, to previous generations. Even though there CAN be benefits of getting a college degree…and it CAN be a pre-requisite for securing a job…it’s certainly becoming a lot more common, and therefore, less impactful towards getting a boost in salary.
Third, millennials are making less money.
Surprisingly, 62% of millennials are living paycheck to paycheck…and, overall..they’re making 20% LESS than baby boomers did at the same age. So, put all of that together…and you have a combination of factors that all make home ownership less possible, which – in turn – lowers the homeownership rate – and then, in turn – means millennials own less wealth.
Fourth, lower millennial net worth.
This study found that the typical Baby Boomers had about $113,000 — in today’s dollars — in wealth in 1989, when they were in their early 40s. On the other hand, recently….older millennials had a net worth of just $91,000 in 2019. In fact, if we just look at AVERAGES across the board, overall….the AVERAGE net worth of millennials is just $8000…
It’s also INCREDIBLY important to realize that, at the end of the day – all the income in the world won’t help if you don’t consistently SAVE AND INVEST, so that way, you can participate in the markets going up in value over time.
My ENTIRE Camera and Recording Equipment:
https://www.amazon.com/shop/grahamstephan?listId=2TNWZ7RP1P1EB
For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness@gmail.com
*Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. This is not investment advice. Public Offer valid for U.S. residents 18+ and subject to account approval. There may be other fees associated with trading. See Public.com/disclosures/
+Graham Stephan is the money management account on Robinhood a good thing to look into?
We’re starting Millennial America Foundation to make an open gate for millennials to get a head start instead of college debt
I like graham cause he’s a money guy but not a jerk about it
I’m just gonna say this: hedgefund government bailout… Fked the little guy. It’s a rich man’s game. Not for “broke” millennials
What about us Gen Xers who plunged head 1st n2 DogeCoin last year 🤷🏽♀️🤦🏾♀️🤦🏾♀️😞👀👀
Please do a reaction video to any of the Professor Kez videos- I KNOW ur able to debunk her theories
So you are saying to focus on long term 20-year growth and then selling your stocks now because of ‘big crash’
Be weary of people who not practice what they preach
Being born a millennial was my mistake, I feel wise beyond my years which is why I need to marry an older millennial at least she possibly could be up to par with me mentally 😅
What they say about milenials is mostly true. They have a different mentality. They have also have bought into the current US mindset of never being uncomfortable and trying to get the most by doing the least. They try to pass it off as not wanting go through everything in life or overwhelm themselves like previous generations.
As for college, maybe it’s not for everyone. But they also have no plans for the alternative.
As for investing that still comes down to being too lazy to learn about it. And feeling like they don’t need to worry about it. Again that comes down to a different mindset
As for home ownership. That goes back to the first point on if you have a plan for a college alternative or if you chose a college you could afford or just for name. Are we taking on more loans than we have to? My last couple years I took on loans so I could get a refund check, and I wasn’t the only one. I want to see the numbers comparing in how milenials stay at home compared to other generations. Are you working two jobs and building up your savings and investments when you do this? Are they really getting apartments right out of high school and college?
But in the end is this actually the fault of milenial parents not pushing them or teaching them what they don’t learn in school. Or even not investing in thier kids educational future?
I dropped out of the job market and will go abroad to China again. Even if you have money are have a somewhat better job you still will never get better. get rich in time peeps
Jokes on you I’m already broke! (Laughing that turns into crying)
😂😂
In other words, the system is broke, Boomers caused it, and are blaming it on us. Sweet
I don’t even have a job at the moment sadly
I have a debt of 46.000 euros in student loans. In the Netherlands, the interest is 0%. Should I invest money I’m making or should I pay back?
Invest
Sometimes this knowledge is just sad and not even helpful
Biggest mistake is being born in country you can’t afford to live in.
I know quite a few college graduates who don’t have a spouse still living with their parents. They make good money, but they have tons of debt, rent has increased significantly, and housing has went up also. In addition most have terrible money management skills.
I try to advise my younger siblings if they go to college in state due to their grades their bachelor would be free and I could afford to pay the difference if they get a Masters. But the rest of my family members encourage going to the most prestigious school they can get into and tell them don’t worry about the cost.
Personal finance should be a required class 9th-12th grade, It would help our country out.
Self accountability should be a class as well
I wish all your titles weren’t doom and gloom but good content
I really like your videos. But I can rarely relate because it’s mostly directed at Americans. Some investments that are only available for Americans, or talking about being in debt because of college or health(that doesn’t happen here in Europe)
I’m so glad I’m not a millennial
Does it matter? Either way our planet is becoming uninhabitable. The more people that live good lives the more pollution we create. Boomers are slaves to their investments which has doomed us all. Wars over water and land will break out. Mass migration will cause political termoil. We have no future. The western US is becoming uninhabitable before our waking eyes. Every year it gets hotter. There are too many people on this planet and everyone trying to live a comfortable industrialized life is a massive part of the problem. Life was never supposed to be comfortable and we’ve damned our children to hell with all our wealth and luxary and comfort. Humanity is a failed experiment. Just find something you truly enjoy and cherish it while there’s still time.
I’m a 2000 baby lol I’m broke broke
3:44 was the first time i have ever heard you cuss and i swear i bursted out laughing 😂 learned everything i know from you bro ily
Millennials and Gen Z professionals are overqualified not because they are brilliant, but because the educational system has been lowering its standards during the last 20 years, and easing up their progression.
Conversely, they entered the job market during a period of entitlement, during which they believe that they are worth more than they actually contribute.
Inflation is the root of the problem
I don’t understand why people simply wouldn’t want to invest. You would think with the laziness of the current generation they would want to make money without even doing anything.
This isnt millennial fault at all, its the riches fault thats the problem.
I legit went to grad school to pay for my loans from my bachelor’s.
Also because interest rates have been kept low there is less incentive to save. If you don’t save its difficult to invest.
Yup. Sounds about right. This is why I’m in my 30s looking to go into trade school.
Not going to lie. That fish 🐠 in the beginning is why i liked this video. 👍🏽
Thank you
Coming from all of the ” I don’t dream of labor videos” …
so ppl get more debt (student loans) everything is more expensive and they earn less… on top of that you can add all the iphones, ipads, macbooks and selfie rods everyone are buying constantly to always have the newest
Millennials are the Worst. I won’t hire them. Give me a Boomer, they will show up early and stay late. Stupid Millennial plays on their phone all day, so lazy, plus their entitlement is profound.
It’s like he was talking directly to me
Not going to hit the like button. I am a millennial and I used to sit down with young people in my 20s and 95% of the millenials just didn’t care. No one cares and they rather blow their money on stupid stuff and dont want to think about the future. So I told myself f them and save yourself. 15 years later i am 200k saved and now they start asking me. I say I dont know anymore because people like you turned me down years ago.
How tf could I do any of that
Lol u want me to invest 40 dollars okay I guess
What’s your upbringing I’m very curious you seem very private school trust fund babyish
I want to invest but I know absolutely nothing about it, haha.
Learn then instead laughing
I think one of the best things my father taught me is the importance of investing. He isn’t an expert on that field, and he lost money with stocks in the 2008 crash (he’s had more success with real estate). But he still encouraged me in 2009 to give it a try and buy one or two stocks – with some of the money he had given me for university – and see how it goes. Over the years, I’ve put more money in and it’s been going so well that now I manage a small stocks portfolio for him as well. He’s also taught me to always look for opportunities (we both invested last year), yet be careful and check the numbers.
This was a very motivating video, thanks for the video Graham 🔥
With respect, I believe you will find that these analyses become irrelevant as time advances. The reason “Millennials are Going Broke” is the same raison d’etre that we will probably see the entire dollar-based economy “Going Broke” before not too long — Demographics. As my Boomer Dad likes to remind me, “Boomers, as the largest generation to ever walk the face of the earth, will always outvote the other generations.” We can see the truth in that statement by the way that politicians on both sides only truly fear one powerful cartel – the AARP.
However, the Boomers are going to find that their Economic Power is rendered extremely vulnerable once Millennials realize their power to circumvent Boomers’ Democratic Power. There’s no way Millennials are going to pay the required amount of $$$ projected as needed to pay for Boomer Retirement. Because of the size of their generation relative to other generations, Boomer Retirement is a fantasy. And even if the other generations will always get outvoted by Boomers, Millennial monopoly over the future labor market (of which we will simply just stop participating) likely means that we will see some sort of economic coup d’etat. This is literally why Bitcoin is a thing lol.
Schools are no longer teaching budgeting skills, they no longer teach students how to balance a checkbook, they no longer teach students how to save before spending, I struggle with my kids wanting to spend all their money on stupid crap rather than save it up for a quality item while also earning interest on that money if they allowed it to stay in the bank account while saving for that item, they also don’t teach kids how to live below your means (pay your mortgage before you buy the newest and latest iPhone or Smart flat screen TV), not to mention they all always want to “eat out” and turn up their noses at homemade food (which by the way helps you stay healthier and live longer), if my kids want to stay and live at home so they can save up money for a down payment on a home my answer will be a resounding yes to the chagrin of probably most of the people reading these comments.
a lot of millennials also plan to inherit wealth from their older parents so no need to invest or take risks and purchase assets.
As a Millennial who has struggling parents and poor grandparents I question how many millennials have this luxury to just wait for their family to die. To me that is both not an option, and also seems pretty messed up.
This is why I went into financial services teaching people about this
I’m a slightly above average engineer, not brilliant but I am capable lol I got lucky with the job I just got and still kinda struggling, times are tough lol 😂
I’m about to pay off my attorney fees. I’ll try this investing and use that money towards it.
jokes on you, im already broke
Money on investments can come and go too my friend, way easier than a steady job, don’t invest if you don’t know how or want to.
Just do basic math folks, that degree is really worth that much?? Is it better to rent or to buy a home now?? You’re going to pay either way, just choose whatever YOU values the most.
Pretty sure Graham is a millennial
the gems and their puppets/useful idiots are doing all they can in bringing us back into the dark age 2.0 as serfs 2.0, where we “will own nothing and will be happy.”
10:45 btw non-whites get EVERY OPPORTUNITY to get ahead of ol’whitey in jobs, housing, etc…miss me with that bullshit, whatever source that is coming from.
“in the last 10 years” Pull that wage growth back to the 70’s and it becomes incredibly clear why those on the line in the 80’s controlled more and why those now are investing less. Trickle down is a myth, literally. Conceptually in how capitalism operates all wealth trickles up and needs something mechanically to make it do otherwise.
It’s almost like what’s the point. Too much effort for little reward. Unless your cardi b or someone like that shake your butt and make a mil
The $1000 at 60 years old wouldn’t be the same as the $1000 now. The irony. Lol.
Going to college does NOT mean you have to be in debt. You can work your way though it and take it slower, paying for it as you go….some of us had to do this and while not fun at all, it works.
Companies have been hiring people with no college degrees (thinking they can do the same job or to be woke) to push down salaries/positions of people with college degrees. As a result, we have a bunch of incompetent coworkers to train up; it’s frustrating and a waste of our time and resources.
Since when were millennials not broke?
Right?🤣
trade schools the move boys. hvac is always in demand!
Iv always heard you gotta have money to make money that’s the fucking problem millenals we’re already broke right out the door. We gotta wait for the boomers to die off.
The harsh reality of not having the Investor Mentality. If they knew about Opportunity cost, it would make a improvement on their circumstances.
” cut back on extravagant things”- Is food considered an extravagant thing 🙂
Yup, I’ve come to realize I can’t afford electricity.
As someone with an advanced degree and a good playing job in my field, only go to college if you have a career plan for the degree. Many degrees are useless for getting a job. Good career ideas include things like medicine, engineering, & agriculture. If your career involves actually producing things people need or providing services people need, you will probably have job security. People need food, homes, clothing, healthcare, clean water, etc.
How did he know, a week after this was posted i lost my job.
I went to a trade school to become a Machinist and now own my business with a healthy income. We first invested in the business and now are using its profit to save for a large down payment on a house.
XRP will set the few mellenials investing in it towards financial freedom.
I’m in credit card debt [have – on my bank acc] and I cannot invest or know how to. Also Have ADHD untreated learning is difficult .. even with youtube..so many stuff idk were to start..I’m trying my best 🥺 to turn my situation around
Also student debt on a degree I didn’t even finish
Baby Boomers have the wealth, had it way easier than Millennials, and then talk trash about Millennials. What a nice generation 😡
Yeah except that the return you would get on most stocks is less than the interest costs on student loans… great idea.. be sure to sign up using the affiliate link tho
Simply put: it takes money to make money
The Pokémon cards was a flex just to make us jealous
But I *love* avocado toast
Maaaaan I need money now
Millennials will work until they die. Retirement will be a luxury not a basic rights anymore.
When too many go to college the degree become worthless. Similar to paper money. When you print out too much money the value become zero. When you have too many people with college degree it become inflated.
As prices have continued to increase, wages have not increased to compensate and those who had old wealth benefited heavily under this system (because in addition to being paid more if you adjust for inflation, costs were lower and that interest in the bank was able to accumulate) while those now entering the market are getting the shaft due to the high costs, low interest rates, and tight regulations on the stock market.
Post-secondary education is a factor but if you believe that sinking yourself over a hundred-thousand dollars in debt before you can make any sort of return on investment is a good idea, you’re probably better off not going in the first place. Companies are learning to train their own staff (like they did decades ago btw) instead of relying on overvalued institutions to do it for them.
tl;dr – The rich get richer and the poor stay poor. Also college is a scam.
I had to replay you swearing, don’t hear it often. that was awesome! great video man,
Wow, with all the inheritance…. Nevermind they blow through it.
Unfortunately many of our peers went to uni with the mindset of education first figure out your career second instead of vice versa. I decided my career first and went to a state school to save money. I’m a teacher, and you can make fun of my salary all you want but I’m in a union my wages go up every year and I was able to save up enough for a house at only 27.
Take what’s mine and folks will get hurt. Motherfuckers want savagery we can oblige
Where are you investing money?
almost like the older generation screwed us over with their choices. 🤔
I think Millenials in general would do better without social media and other news outlets posting material with attention grabbing titles “informing” millenials of how ruined their futures are. I’m not in the best situation financially, albeit trying to improve, and it’s discouraging/demoralizing. I feel like these comments turn into jerk off fests about how much money everyone has.
Love watching this as a millennial and not being able to relate to any of these problems 😎
I think the first thing to focus on would be personal accounting. Get all finances and expenses on a sheet then begin planning and scaling livability.
Cool insight, I appreciate an opportunity to get such knowledge on how to make money, I look forward to trading bitcoin and making it an alternative source of income
BITCOIN IS THE ONLY TRUE DEMOCRACY
EVER EXISTS IN THE WORLD
Wait wait wait. This man is “investing” in a fractional share of a Pokémon card? Graham you’re losing me buddy.
Self serving and selfishness usually ends up broke.
This is the problem! Most times people with little or no knowledge of the stock market try investing by themselves. It once happened to me, then I learned my lesson and contacted a certified trader, Suzanne Stephens Ellis and everything changed.
No education is worth: $120,000.00 of debt. There are plenty of jobs that do not require a college degree, forklift drivers are making $22.00 an hour at some places, truck drivers are clearing $100,000/yr. Many millennials are trying to get jobs that allow them to sit at a desk, because those jobs are more glamorous than driving a truck.
can’t go broke if I’m already broke
They already are broke
Marriage
If this, needs swift intervention. I think basic income would be great. It’s a tax offset
I have $1 in my bank account how the **** am I supposed to invest?
Penny stocks
23 years old, 50-70k in net worth, mostly in cash. Trying to invest but only like 3k in investments right now since im scared to invest a lot in it. Saving money for now to get my own home/property. Im saving 1-2k per month for now since i love with parents