There is something to be said for Millennials and debt. Many of us have it, either through school loans, credit, medical bills, mortgages, and whatever else. Study after study has proven that Millennials have less money than their parents did, at the same age. But this doesn’t mean that this generation will always be playing catch up.
Millennials and Financial Independence
This brings us to another aspect of financial independence. There is a segment of the Millennial population who are saving and investing at a degree not seen in the young people of previous generations. Equity through homeownership, investment in stocks and funds, rental properties, frugality, and extreme savings rates are starting to typify a certain segment of the Millennial financial conversation.
This is partly due to the same technological advancements that have improved the lives of all generations. Twenty years ago, the barriers to entry for investors were much higher than they are today. Index funds and ETFs were not yet common. Today, a Millennial can invest on her phone, while her father would have had to phone up a broker, pay high fees, and do a lot of waiting for the same transaction to complete just ten or fifteen years ago.