New research out of Melbourne says that though most Gen Y have a short term savings plan in place, they are falling short when it comes to longer-term savings. It also notes that Gen Y gets less credit than it deserves when in relation to finances. 

According to a recent article from On Wall Street, Gen Y investors now comprise nearly 10% of all affluent investors in the US and they get their financial information much differently from older generations. Based on a report by Cogent Research, 35% of Gen Y respondents said they recalled mutual fund contacts via social media (versus 4% for non Gen Y investors). Advisors who want to tap into this lucrative source of future clients should weigh alternative approaches to connecting – social media platforms, company websites or blogs are recommended. 

Recent college graduate Pierre Gergis shares some insight into Millennials and corporate adaptability on Forbes. 

The author argues that senior corporate leadership needs to reevaluate how it is integrating Millennial new hires. As digital natives, Gen Y was immersed in web ‘language’ at a young age, ensuring adaptability to new scenarios, regardless of specific experience and increasing the likelihood of eloquence when it comes to treating these systems and environments for what they are: tools for building and creating. Most of Millennials  experience and learnings can no longer be easily reflected on a resume; however, the forward-thinking insight, flexibility and almost reckless abandon with which Millennials approach work, make it possible to create brands and technologies that challenge and overshadow decades old institutions.

Thanks to 8095er Ashley Pollard for the analysis!

According to the Daily Mail, for the first time since the single currency was created in 1999, the unemployment rate has hit 12% in the eurozone (compared with 7.7% in Britain). The numbers are even bleaker for those under 25 – 58% in Greece, 56% in Spain, 38% in Portugal and Italy and 24% in the eurozone as a whole. Officials say that the ‘economic and social consequences of high unemployment continue to represent one of the most significant threats to the future of the eurozone’ and that ‘urgent action is required to avoid the creation of a lost generation of young people who have been denied access to work’. 

Thanks to 8095er Ashley Pollard for the analysis!

According to a recent study, “Lost Generations? Wealth Building among Young Americans”, the average wealth of American households doubled over the last quarter century, the average wealth of people ages 29-37 had fallen by 21% from 1983 to 2010. Reasons include the foreclosure crisis, ballooning student debts and a decline in business equity and other assets. The author suggest that young people can start making savings automatic and urges policymakers to focus more attention on wealth building among younger households and other low-wealth groups. 

Notably, it isn’t all bad news. Read more over on The Atlantic. 

Author David Burstein argues that while Boomers helped produced long-lasting change with the passage of the civil rights and the end to the war in Vietnam, today’s millennial activism is more powerful, more suited for the time and more sustainable. Through the use of technology, creation of organizations and businesses to implement solutions to pressing national issues and the use of consumer power to push companies to be more socially responsible, Millennials have created a unique approach to effecting change. 

Weigh in with your thoughts over on PolicyMic. 

“While the workplace has evolved over the last several years, it is not adapting quickly enough for Millennials; according to the US Bureau of Labor Statistics, one out of every two millennials is either unemployed or under-employed.” 

Forbes contributor Michael S. Malone looks at how the job market has evolved for the Millennial workforce. 

According to CultureQ research, Millennials have been incorrectly portrayed as lazy and instead, actually list academic success, personal fulfillment and the global economy as important issues in their lives. Ms. Bahr Thompson, Founding Partner of Onesixtyfourth, suggests the following strategies for brands and marketers to relate to millennial consumers:

Inspire confidence in the future

Be goal oriented

Deliver consistently

Give over control

Be bigger than your product

See the full press release here: http://www.digitaljournal.com/pr/1146466

Really interesting analysis of the US-based bro-culture of male Millennials from mtvinsights:

By Jill Bromann, MTV

photo credit: College Humor

Guys have moved in packs ever since they were hunting with spears, and the concept of the “bromance” and “metrosexual” are at least as old as is I Love You, Man. However, there are significant and noteworthy new dynamics…

nanotrends:

“Part social network, part crowdfunding service in the style of Kickstarter, Upstart provides an online forum where participants post personal profiles with their background and goals in the hope of attracting at least five financial backers.

The backers - acquaintances, alumni or other accredited investors - provide funding that will typically range between $20,000 and $50,000 in exchange for an agreed share of the graduate’s future income over a 10-year period. Upstart determines the portion of future annual income to be shared based on the total sum raised and the person’s qualifications, including academic record and field of study.”

minusmanhattan:

shortformblog:

Michelle and I are saddened to learn of the passing of Steve Jobs. Steve was among the greatest of American innovators - brave enough to think differently, bold enough to believe he could change the world, and talented enough to do it.

By building one of the planet’s most successful companies from his garage, he exemplified the spirit of American ingenuity. By making computers personal and putting the internet in our pockets, he made the information revolution not only accessible, but intuitive and fun. And by turning his talents to storytelling, he has brought joy to millions of children and grownups alike. Steve was fond of saying that he lived every day like it was his last. Because he did, he transformed our lives, redefined entire industries, and achieved one of the rarest feats in human history: he changed the way each of us sees the world.

The world has lost a visionary. And there may be no greater tribute to Steve’s success than the fact that much of the world learned of his passing on a device he invented. Michelle and I send our thoughts and prayers to Steve’s wife Laurene, his family, and all those who loved him.

Bolded our favorite line from this. (Thanks Matt for sending this along)

Pretty amazing stuff from Obama.

infoneer-pulse:

Another sign that the college lecture might be dying: Harvard University physics professor Eric Mazur is championing the “flipped classroom,” a model where information traditionally transferred during lectures is learned on a student’s own time, and classroom time is spent discussing and applying knowledge to real-world situations. To make it easy for professors to transition out of lecture mode, Mazur has developed Learning Catalytics, an interactive software that enables them to make the most of student interactions and maximize the retention of knowledge.

» via GOOD