Tuesday, September 16, 2014

Millennials Forecast to Control $7 Trillion in Liquid Assets by 2020

Millennials are also known as Generation Y
According to the Forbes article "The Recession Generation: How Millennials Are Changing Money Management Forever," Millennials currently own $2 trillion in liquid assets and that number is expected to reach $7 trillion by the end of the decade.  By 2020, Millennials will make up approximately 36% of the adult population.  Currently, 34% of them have a 4 year college degree.

Not only do Millennials want to remain mobile, but many of them saw their parents or know of someone that took a big hit during The Great Recession. Very few believe they will get much, if anything from social security. This is translating into arguably the savviest generation ever in our country with savings and investment managment.

Apartment owners are taking advantage by selling and exchanging to create more cash flow or ease of management,  holding and refinancing with low interest rates to diversify their portfolio, holding and improving operations to generate more cash flow or cashing out and expediting their retirement.

Many Millennials are choosing to remain single, and for the first time ever, single people make up the majority of the adult population.