20190329-millenials


Who are the Millennials?

Wendy:   Rick Ackerman, a financial analyst in his interview with Greg Hunter (3/26/19) was talking about the pension crisis and how the social security and medicare systems are doomed because the Millennials will not able to pay for these astronomical costs.   So what do we know about the Millennials who are becoming the main economic driving force?

Rick asked:

·       Do you really think the Millennials are able to pay the Baby Boomers’ retirement?  for the social security?  medicare? 

·       Can they pay for the medical bill and social security of their parents when the baby their parents are now expected to live till their 90s?   When they are still living with their parents till 35?   when they are on average $50K in student debt ?   when they have a degree that they will never use?


Who are the Millennials?

·       The Silent Generation: Born 1928-1945 (73-90 years old)
·       Baby Boomers: Born 1946-1964 (54-72 years old)
·       Generation X: Born 1965-1980 (38-53 years old)
·       Millennials: Born 1981-1996 (22-37 years old)
·       Generation Z:  Born 1997-Present (0-21 years old)


·       The perception of the millennials generation - exceptionally narcissistic, immature, and disengaged from society and they are killing many traditional industries. 

Why they are so different?

·       They earn less, hold fewer assets.   Many have student debts and can’t afford to buy a house.
·        
·       They value spending their money ethically.

·       They prioritize health and wellness.

·       The 12 Industries Expert say the Millennials are killing:

1.             Cereal- not inconvenient but too sugary

2.             Casual dining – they prefer higher-end eateries like Panera Bread, Chipotle rather than casual-dining chains such as Ruby Tuesday, Olive Garden and Applebees.

3.             Department stores – they prefer online shopping and off-price retailers like TJ Maxx and Marshalls.   They are price sensitive and prefer convenience.

4.             Luxury goods - care about experiences instead of things, so they’re not buying sports cars and luxury watches.  They like name brands that offer luxury look at more affordable prices.

5.             Cable TV -  in favor of streaming services like Netflix, Hulu, and Amazon Prime not cable TV subscription.

6.             Gym – They prefer working in a group than solo exercise.  They like studio gyms that offer personalized, high-intensity group workout experience.

  7.             American cheese – they prefer natural cheese not fake, processed cheese.

           8.             Beer – they prefer craft beer not mass market beers.

           9.             Canned tuna – they like tuna but not in the can.

10.     Motorcycles -  they prefer electric scooters than an expensive toy made by    Harley Davison.

11.    Golf – they don’t like the exclusive private country club type of sport.

12.         Raisins – they want to avoid added sugar, even in a ‘healthier’ source.

https://www.cbinsights.com/research/millennials-killing-industries/

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