The Generation Of Millennials
analytical Essay
986 words
Essay Draft 1 Finances play a part in everyone’s lives. According to critics, the generation of Millennials have not been the most accomplished in this area. However, new information is on the rise, and it shows that Millennials are becoming more financially stable. The generation of Millennials is a broad group. The group of Millennials associated in this discussion are from the beginning of the Millennial generation, which are those born between the 1980s and 1990s. The Millennials generation itself ranges from the 1980s to 2004. After the Great Recession, the older generation of Millennials had a massive setback with financial security. Since then, Millennials have always been known for having poor finances by critics. Millennials may not …show more content…
In this essay, the author
- Explains that the generation of millennials is a broad group, which includes those born between the 1980s and 1990s.
- Analyzes how millennials are making an effort in their finances, prioritizing and budgeting, and investing in retirement savings.
- Analyzes how tim gurner, an australian millionaire, argues that millennials spend too much money on avocado toast when they could be saving and buying a house.
- Explains that the great recession affected the entire us from 2007-2009, and we are still recovering from it. the federal government invested $4.7 trillion into the failing economy.
- Analyzes how recent statistics and surveys about millennials' improving finances show they are on the mend from the great recession and are changing the status quo of their finances.
- Explains that millennials are investing in their futures by saving money for retirement and saving in general. the schwab modern wealth index survey included 1,000 americans between 21-75 and how they managed their money.
- Explains that the growth of millennials investing in their 401(k) plans is 20% higher than in 2015. employers advertise automatic-enrollment for their employees, which opens the door for them to contemplate their savings and investing.
- Explains that millennials are saving for retirement, paying bills, buying groceries, purchasing every day necessities, and leaving room for entertainment costs.
They squander their money on luxurious foods instead of taking the next step into adulthood. (NY Times, 2017) However interesting Gurner’s argument may seem, he is incorrect. Avocados may currently be at their peak price, but Millennials buying too much of them is not the cause for Millennials’ financial hardships. According to the source, this isn’t the first time someone has tried to blame buying luxurious foods as an excuse for Millennials’ failing finances. Millennials’ finances have not been under extraneous tension for a while. Since the Great Recession, Millennials have been trying to improve their finances and find their place in …show more content…
Three in five millennials have been saving more than 5% of their income, and have the best budgeting system. Millennials are investing in their futures by saving money for retirement and saving in general. (Chase Bank, 2017) Another survey was done by the Schwab Modern Wealth Index. The survey included 1,000 Americans between the ages of 21-75 and how they managed their money. Schwab was mainly concerned with four areas: goal setting and financial planning, saving and investing, staying on track, confidence in reaching financial goals. On a scale of 0 to 100, the different generations were analyzed. Baby boomers came in with a score of 49, generation X had 45, and millennials scored a
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In this essay, the author
- Argues that the advancement of millennials compared to previous generations is normal and beneficial to the greater society.
- Analyzes how older generations consider millennials lazy, entitled, self-absorbed, and technology crazed because they are spoiled and more privileged than any generation before.
- Argues that millennials deserve credit for surviving through "tough times" as many older generations have criticized them for their privileges.
- Analyzes how millennials remained optimistic about their financial futures throughout the devastation. they are digitally native, ethically diverse, late-marrying, and less bound by traditional gender roles.
- Opines that older generations need to understand millennials, work with them, and support them. people have power in numbers and the separation between age and features of generations prevents them from being one workforce.
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In this essay, the author
- Explains that ninety percent of people born in the 1970s claim to have an "extremely close" relationship with their parents.
- Explains that millennials are remarkably close to their parents, so close that they have not been given the opportunity to grow and experience life on their own.
- Explains that millennials feel entitlement as if they have a birthright when in actuality they must work for it. they want to make friends first, be recognized for their successes, and not work as hard as their parents did.
- Explains that generation x and millennials have compiled less wealth than their parents and grandparents had in their youth.
- Opines that if parents continue to use helicopter parenting as a method and sell the sense of entitlement, it will not be positive outcome.
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In this essay, the author
- Explains that millennials are working harder than ever to try and stand out from the rest of their peers so they can land a good job to support them.
- Opines that young adults are not giving up on marriage, they are just waiting longer than what society is used to of the age people get married at. fewer adults today want kids because they don't see themselves having a manageable life.
- Explains that millennials are more focused on their education, career, and making money than their previous generations have been, leading to them shunning marriage and children.
- Analyzes the decline in marriage in generation y due to economic instability and limitations set by having children.
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In this essay, the author
- Opines that the recession is officially over and the united states is starting to recover, but americans are still feeling its effects. when their savings and pensions have disappeared, there is nothing else for them to look forward to.
- Explains that the recession has also impacted millennials. austin prater took out life insurance families for himself so his family won't worry about him if something happens to him.
- Explains that jude boudreaux, a financial planner at upperline financial, in new orleans, says that millennials should invest on themselves.
- Explains that the gig economy is expanding and millennials are trying to make financial decisions through investments and planning. they are learning not to depend on their savings and taking in financial advice for their future and financial investments.
313 wordsRead More - Negative Essay: Not Only Are Millennials Redefining Adulthoodanalytical essayThose born between the years of 1982 and 2004, became known as The Millennials, however, this generation has been redefining traditional standards set by previous generations. By this generation's standards, they want to achieve higher education and travel, things that will set them back financially which has been made as a point to their change in the expected time for adulthood. One that is willing the delay the previous generation's’ dream of marriage and family to reach their more modern take on the American Dream. Millennials have many differences from them and previous generations, they were able to look more towards “who they were” than “what needs to get done”.
In this essay, the author
- Explains that millennials are redefining adulthood and changing the american dream. they want to achieve higher education and travel, which will delay the previous generation's dream of marriage and family.
- Explains that millennials need stability to grow and reach their version of the american dream. baby boomers received free education, generous pensions, and the housing boom.
- Analyzes how the article, youth, job, and the american dream, states that 22 of the 30 occupations with the largest number of projected job openings are not typically requiring post-secondary education.
- Explains that millennials have personal goals they want to reach, but job placement caused a change not only to the traditional views set before them but to their own.
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In this essay, the author
- Opines that the millennial generation possesses a great sense of entitlement. when one is entitled, they feel like they should be more privileged and behave as if they are more deserving.
- Argues that millennials are conceited, undetermined to earn what they are given, and that they hold a sense of entitlement.
- Analyzes how bosworth implies that millennials' sense of entitlement is their own fault due to the fact that many make excuses and just barely do enough to get themselves by.
- Analyzes how miller and slocombe's claim that millennials' sense of entitlement is not entirely their own fault.
- Argues that despite the common position that generation y is entitled, everyone has yet to discover the absolute agreement of who is responsible for the feeling of entitlement millennials hold on to.
822 wordsRead More - Teenagers Obsessed with Consumption Because of Media Advertisements and Other Influencesanalytical essayExtensive research has recently been conducted concerning teenager consumer spending. The total number of teenagers in the United States was 25.6 million. In contrast to the population, the total teen spending was approximately $208.7 million annually. Premature affluence has increased dramatically in this generation. Teenagers have been overspending on materialistic products. This was also a cause of the increasing poverty and debt rates.The term “Premature Affluence” is a concept that describes when a group of people, especially teenagers, have more income than one can manage maturely (Piquero & Tibbets, 2002).
In this essay, the author
- Explains that this survey was distributed to 115 teenagers in new york, ny ranging from the ages of 13-18.
- Opines that the hypothesis that teens were overly obsessed with consumption because of media advertisements and other influences was not upheld by the data.
- Hypothesizes that teens are overly obsessed with consumerism because of media advertisements and other influences.
- Explains that a survey was created based on studies done by moschis & mitchell, gil, kwon, good, and johnson. it contained 15 questions that test the surveyor in different aspects.
- Explains that the survey was broken into five different sub-parts. questions 1 and 2 were qualifier questions that were used to show if the participant was qualified to take the questionnaire.
- Analyzes the effects of premature affluence on teenagers in the united states.
- Analyzes how teenage consumption is directly influenced by media advertisements and other influences. moschis & mitchell's study stressed the importance of communication and interactions between family members and peers.
- Explains that questions 4 and 5 were related because they tested how often the participant went shopping with both their family and friends.
- Describes the choices of the participants, ranging from 13- over 18 years old.
- Concludes that the hypothesis was not upheld. participants over 18 went shopping alone significantly more often than both younger age groups.
- Explains that the topic of over consumption and consumerism is important to society and science. they thank their mentors, george hero, ernest pysher, joann peters and marisa koppell for helping with the application process.
- Analyzes the effects of social media based brand communities on brand community markers, value creation practices, brand trust and brand loyalty among teens.
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In this essay, the author
- Describes how their parents gave them a $1,000 birthday check to start their financial portfolio. they told them that money can't buy them happiness, but it can make their future easier.
- Explains that a budget reveals how much money you need to spend on essentials per month.
- Recommends putting money in an index fund in the stock market and watching the growth.
- Explains that diversification is the most important part of saving and growing our net worth.
- Opines that the process of creating a financial portfolio is important for young adults, so they can prepare for their futures realistically.
1163 wordsRead More - Millennials (Generation X) tend to look for more commitments from the banking industry. They are looking for convenience as opposed to personal interactions. According to Schawbel, D. (2013), “61% want video meetings with advisors and 57% will change financial advisors for a tech setting.” Millennials are more concerned with the experience and are looking for an environment that would allow them to utilize their cell phones and social networking. According to the 2014 Cisco Connected World Technology Report, “millennials won’t work at a company that blocks these tools or doesn’t let them choose between mobile devices.” The
In this essay, the author
- Explains that the financial services industry has many facets that can pose challenges to those who choose to make this their career path.
- Explains that millennials (generation x) are more concerned with the experience and are looking for an environment that would allow them to utilize their cell phones and social networking.
- Explains that only 10% of millennials in the industry plan to stay in their current job for the long term, compared to an average of 18% across all industries.
- Explains that the customer base is constantly changing in the financial services industry. the changing can come from many things, but mainly from the changes that occur within the community.
- Explains that the dodd-frank wall street reform and consumer protection act is a massive piece of financial reform legislation passed by the obama administration in 2010.
706 wordsRead More - What Are Millennials?opinion essayMillennials also known as Generation Y are not always seen to be great individuals to the older generations, but then again the younger generations are always bad in the eyes of the older ones for different reasons. In their current works, of Joel Stein (2013) Millennials: The Me Me Me Generation, publication Time magazine, as well as the video of Ms. Mojo (2017) Top 10 Reasons Why Millennials are hated, publication YouTube, give reason why they are disliked and their views on millennials. In discussions of Millennials, one controversial issue has been weather they are upright citizens or not. I believe they are and disagree with people who don’t see them as upright citizens.
In this essay, the author
- Opines that millennials are capable of human emotion and empathy for the people around them.
- Opines that millennials cannot function without a phone or screen in front of their faces all the time. they are not attached to facebook, instagram, snapchat, or twitter.
- Opines that millennials take a stand to their beliefs and do not let people knock them down or knock others down.
- Opines that millennials are not lazy, non-empathetic, entitled people. they have the right to stand up for themselves and to be individuals with high expectations. technology does not define who they are.
- Analyzes how joel stein and ms. mojo's views on millennials differ from those of older generations. millennials grew up in a different time period where technology existed.
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