We would love to hear from you. Click on the ‘Contact Us’ link to the right and choose your favorite way to reach-out!

wscdsdc

media/speaking contact

Jamie Johnson

business contact

Victoria Peterson

Contact Us

855.ask.wink

Close [x]
pattern

Industry News

Categories

  • Industry Articles (21,155)
  • Industry Conferences (2)
  • Industry Job Openings (35)
  • Moore on the Market (414)
  • Negative Media (144)
  • Positive Media (73)
  • Sheryl's Articles (800)
  • Wink's Articles (353)
  • Wink's Inside Story (274)
  • Wink's Press Releases (123)
  • Blog Archives

  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • November 2011
  • October 2011
  • September 2011
  • August 2011
  • July 2011
  • June 2011
  • May 2011
  • April 2011
  • March 2011
  • February 2011
  • January 2011
  • December 2010
  • November 2010
  • October 2010
  • September 2010
  • August 2010
  • July 2010
  • June 2010
  • May 2010
  • April 2010
  • March 2010
  • February 2010
  • January 2010
  • December 2009
  • November 2009
  • October 2009
  • August 2009
  • June 2009
  • May 2009
  • April 2009
  • March 2009
  • November 2008
  • September 2008
  • May 2008
  • February 2008
  • August 2006
  • What’s Up With The Millennials?

    April 16, 2014 by Susan Rupe

    The baby boomers are kicking and screaming their way into the sunset and Generation X is sliding into middle age. That leaves the mil­len­nials – also known as Generation Y – as the latest demo­graphic to find a seat at the grown-ups’ table.

    This is the gen­er­a­tion that saw the dot-com bubble and the housing melt­down rip their par­ents’ invest­ments to shreds. This also is the gen­er­a­tion that emerged from col­lege sad­dled with debt and facing dis­ap­pointing job prospects. And this is the gen­er­a­tion that many describe as “enti­tled” and “high maintenance.”

    So how are they faring finan­cially? Some recent studies took a look.

    According to the 2014 Insurance Barometer Study, released by Life Happens and LIMRA, younger con­sumers are notice­ably more anx­ious about their finan­cial plans, despite being best suited to take actions now that can make a difference.

    According to the annual study, half of con­sumers age 25–34 (52 per­cent) state they are very or extremely con­cerned about having suf­fi­cient funds for a com­fort­able retire­ment com­pared with just 47 per­cent of con­sumers age 35–44. Nearly a third of mil­len­nials (27 per­cent) are as con­cerned about paying for a child’s schooling (com­pared with 21 per­cent of those age 35–44) and bur­dening others with final expenses (28 per­cent, com­pared with 19 per­cent of con­sumers age 35–44). Surprisingly, con­sumers under age 25 show the most worry of all age groups when it comes to paying for med­ical expenses (43 per­cent are very or extremely con­cerned), leaving depen­dents in a dif­fi­cult sit­u­a­tion if they were to die pre­ma­turely (38 per­cent), and paying for a child’s schooling (36 percent).

    Although mil­len­nials pride them­selves on their ability to use tech­nology to do just about every­thing, another study showed them to be sur­pris­ingly “old school” in some ways.

    Northwestern Mutual’s 2014 Planning and Progress Study showed that mil­len­nials rec­og­nize the impor­tance of saving and investing and tend to be more proac­tive about plan­ning than their older coun­ter­parts. Other high­lights of the study showed:

    • Only 14 per­cent of mil­len­nials say that when it comes to saving and investing, they are aiming high and pur­suing as much growth as possible
    • 30 per­cent favor “slow and steady” as their finan­cial plan­ning approach while another 30 per­cent would prefer to be more cau­tious but feel they have a lot of catching up to do
    • They’re even more finan­cially dis­ci­plined than their grand­par­ents. Even though they’re just starting out, 62 per­cent of mil­len­nials say they are “highly dis­ci­plined” or “dis­ci­plined” finan­cial plan­ners, as com­pared to 54 per­cent of adults age 60 and over.

    Although they may be ahead of the curve in making finan­cial plan­ning a pri­ority, the large majority of mil­len­nials rec­og­nize they can do even better. More than two thirds said their saving and invest­ment plans have some room for improve­ment but 28 per­cent said that they are uncer­tain where to find help.

    Finally only one in eight of this age group has a finan­cial advisor, leaving this cohort ripe for guid­ance from someone who can set them on the right path.

    Originally Posted at InsuranceNewsNet Blog on April 16, 2014 by Susan Rupe.

    Categories: Industry Articles
    currency