Stereotypes Of Millennials

“Only 24% of Baby Boomers are confident they will have enough savings to last throughout retirement, down from 36% in 2012.” (Frankel) This is the reason more Baby Boomers are working longer before retiring. At the same time the Millennials were growing up through the recession, acquired student loan debt and were entering a very competitive job market. Robin Lewis captured this reality through this quote. “This is a generation that is bigger than the boomers in population, but their wallets are smaller, and they are more into the style of life than the stuff of life.” This backs up a study conducted by Bank of America Merrill Lynch that shows “A whopping 82% of millennials are investing in a retirement savings account and 75% of the baby boom generation does so.” (Abrams) The main reason for this pattern is the Millennials are investing in retirement accounts at work many of which have matching programs and Baby Boomers are skitish of the market and losing more of thier retirement.

In the article “A Generation of Slackers? Not So Much”, by Catherine Rampell, the author analyzes and challenges the popular stigma that Millennials are the laziest generation to have ever existed. Rampell begins her article with a staggering fact: “The unemployment rate for 16- to 24-year-olds is a whopping 17.6 percent” (Rampell 388). And according to seventy-five percent of Americans, “Today’s youth are less virtuous and industrious than their elders” (Rampell 388). This may seem like an incredibly high percentage of Americans, but you might be astonished to learn that even “Two-thirds of millennials said older adults were superior to the younger generation when it came

After covering facts about millennials and their imperfections, Stein turns his article around by recognizing their good qualities. The purpose of Stein’s article is revealed when he changes sides of opinion. He praises their admirable characteristics saying, “They are probusiness. They’re financially responsible; although student loans have hit record highs, they have less household and credit-card debt than any previous generation on record.” (Stein 33), proving that millennials are more capable and intelligent at managing money although in more debt than previous generations. Stein uses logos to further establish his credibility.

In an effort to save money and lower debt, more and more millennials are turning living in their parent's basement from the punchline of a bad joke or sitcom fodder into an accepted, and even

At the same time, a growing number of millennials are facing burdensome student loan debt. Rather than come out of college with pristine back-end ratios primed for a hefty mortgage, they are handcuffed by the debt that they have amassed in their early twenties. As the Pew Research Center has noted, 37 percent of people under the age of thirty have student loan debt. They contribute to the $1.3 trillion in student debt, leverage that could presumably be used for a mortgage or some other useful credit if it were not locked up already. Millennials are trying to increase their earning power by going to school so that they have the opportunity to advance economically, but it is simultaneously holding many of them back via years of extra debt—debt that is notably not going to a

To start, this shift towards a shared economy is giving Millennials a bad reputation. Instead of focusing on their spending habits, Huffington Post blogger, Tim Urban, targets the work ethics of the younger generations in his article, “Why Generation Y Yuppies Are Unhappy.” In fact, Urban believes that younger generations were too spoiled in their childhood, so by the time adulthood hit they were destined to be failures. In addition to

Makrovich (2013) in a study of stereotypes work in both generations are depending on the nature of the generation. Furthermore, the generation X should appreciate and be ready to adapt to the way work ethic generation Y. The difference between the two generations will maintain loyalty to the leadership of senior generation trends. Enticement, pleasure seeking, self direction and task-oriented are the dominant trait on generation X working stereotype. This is where they are more on task-oriented, independent and also more on self-reliant in their working ethics in the workplace. Generation X at workplace was this generation are easier to adapt and also have high expectation in the workplace. Generation X by virtue can developed living skills

Consistent with the research in “How to E-D-U”, the information in “Why Millennials are Behind” shows this problem is only getting worse because the total wealth of millennials in the same age group has actually fallen since 1984 to $26,059 from $29,521.

When the economy crashed in 2007 the youth was hit the hardest. The unemployment rate for people aged 25-32 was over 8 percent in 2013 (Machado “How Millennials…”). Instead of working dead-end seasonal jobs, Millennials would rather use this opportunity to do something they may have never had the opportunity to do otherwise. Also, growing up seeing their parents 401k’s wiped clean and hearing talk of failing social security program has caused Millennials to distrust their retirement options. In fact, only 6 percent of Millennials believe they will obtain the same benefits as their parents, and half believe that there will be no more money in social security by the time they graduate (Machado “How Millennials…”).

What is the state of the US economy? Has a cloud fallen on the US and harder economic times coming? Is continued decline require a cautious posture? “It's hard to decipher the state of the economy from headlines.” Although the economy is not equal to pre-recession times which was more than six years ago, the “jobs lost to the Great Recession have been replaced. Unemployment is down. The stock market has generally prospered.” What role does consumer

The average debt suffered by every 2013 college graduate was a staggering $35,200 (Roos p. 2 par 1). According to experts, this is the worst the economy has been in 80 years (Thompson, par 4). There are so many things working against the generation of today from an economical standpoint. The housing market crash of 2007-2008 took a toll on the economy as a whole, but in turn managed to affect millenials more so than any other generation. Throughout American history, every generation has had one of the same major goals; get rich quickly and be more prosperous than the generation before. Even today as the country has grown richer, Generations X and Y (people up to the age of about 50) have amassed less wealth than their parents had when they were the same age. If this is not harrowing enough, the average net worth of a person aged 29-37 has been lowered by 21% since 1983 while the average net worth of a person aged 56-64 has more than doubled since the same year. It is depressing to think that millenials will almost indefinitely suffer more instability in their retirements than their parents or even their grandparents (Lowrey, p. 2 par 5). Someone at the age of 30 in 2013 was worth 21% less than someone at the age of 30 in 1983, meanwhile the net worth of an average 60 year old in 2013 was more than twice as high as a 60 year old in 1983. In other words, young people are getting poorer as older people becoming richer

The millennial generation is defined as the generation of children born between 1980 and 2000. This is the generation of young men and women fully committing themselves to personal aspirations. Time Magazine published an article titled “Millennials: the Me Me Me Generation,” which claimed millennials are lazy, self-entitled, self-obsessed narcissists. Yet, millennials are also known for being realistic.

In the article “Do Millennials Stand a Chance in the Real World?” from the AENGL100 pack, by Annie Lowery gives us an insight of the future for many Millennials. The article paints a picture about how the economy is not the same as prior years. The article also states how financial patterns that Millennials exercise are not helping them in this current economy. Specifically, how millennials spend money that they do not have.

Millennials, a group of people who were born in the year 1984 and after. There are millions of them and they are our future. According to Simon Sinek, millennials “are accused of being entitled and narcissistic, self interested, unfocused and lazy.” Even though Millennials lack in some aspects, he believes that parenting, technology, impatience and environment is to blame. As a millennial, I totally agree with Sinek’s point because I am affected by all the variables that he listed ever since birth. Millennials did not do anything wrong but, the way they were raised affected their attitudes.

According to recent research, Millennials (75.5 million) have edged out the Baby Boomers (74.9 million), who are retiring, as the fastest growing group in the United States, with Generation X lagging behind (66 million) (Fry, 2016). By the year 2020, Millennials will account for half of the workforce and their impact on the economic is contingent upon how the economy is doing at that time (Shin, 2015). The Education Testing Service found although Millennials are receiving more education than any other generational group, they may lose their competitive edge against international peers (Twaronite, 2015).