The Affluent Millennials Are Ready to Receive $59 Trillion

We hear a lot of talk about the 77 million millennials (born between 1981-early 2000s) and the possibility that they will become the next Great Nation. I’ve completed weeks of extensive research on this topic and from what I see, there is a very good chance that this could be true. But, it’s not just the millennials overall, it’s the 15.5 million affluent millennials that are on a hot streak and poised to inherit $59 trillion dollars over the next 20+ years. Affluent Millennials already have $100,000+ in investable assets, excluding real estate and they already spend $2 trillion annually. They do save 28% of their paycheck, unlike GenXers (born between 1966-1980) and they are optimistic about the future and making sacrifices now to reach long term goals. This group is fired up to be successful AND have fun. Their motto is Work Hard and Play Hard, compared to previous generations that worked like crazy, barely took time for vacations and never really found that work-life-family balance. The affluent millennials are mastering this balance already.

Financial service providers face dramatic and historic changes over the next 20 years. An epic transfer of more than $59 trillion dollars in wealth to the 15.5 million Affluent Millennials will give them exceptional power as they reshape the future of the financial industry, business models and marketing strategies. The firms that meet them within the Affluent Millennials social networks, their style of communication and approach will thrive, while other providers will likely fail miserably.

There are numerous differences between the Affluent Millennials, Millennials, the GenXers and Baby Boomers. Making the mistake of marketing to them like the other two generations will be like entering a Ferrari automobile race with a mini-van. Good luck! This could be the next Great Generation and they are ready! The financial advisors that want a piece of this $59 trillion better be ready also.


Sample Content of  the Affluent Millennials keynote presentation:

  • There are 5 primary factors AMs look for in financial service providers. Knowing these will help you succeed greatly
  • The AMs are progressive and have an optimistic outlook for their future. Their levels of trust and confidence are unparalleled.
  • There are 77 million Millennials but only 15.5 million Affluent Millennials
  • They are control freaks and want to conduct research within Social media before they make important financial decisions.
  • Social-centric and open-minded to non-traditional investments
  • 72% believe that the sacrifices they make now will pay off ahead.
  • 3x more likely than GenXers to establish a charitable foundation.
  • They save a median 24% of each paycheck vs. 18% for GenXers.
  • They want complete control over their final financial decisions but 87% value guidance and support from financial advisors.
  • One-third of AMs don’t have a retirement account yet.
  • Affluent Millennials are especially active on LinkedIn in these particular areas.
  • They are mastering the balance of work, life, health, relationships and fun