4/26/2015 – Make way for the millennials, America’s economic force of the future (The Dallas Morning News)

Apr 26, 2015 Comments Off by

The roughly 74 million millennials, including 6.3 million in Texas, will have a profound economic effect as more baby boomers retire. They’ll spend more money on new technology, they’ll start the next Google, and they’ll become the main breadwinners for their families.But some of their distinct characteristics may delay their full impact. Millennials — also called Generation Y — tend to be highly educated but burdened by student loans. Many are unemployed or underemployed.They also are waiting longer to marry, have kids and buy a home or a car. Many still live with their parents.

“You have this big generation — bigger than the baby boomers now — and they have the potential to buy cars, buy houses, and the numbers do matter,” said Sarah Watt House, an economist for Wells Fargo who studies millennials. “Look around the world: One of the reasons Japan is really struggling is that their population is not only aging, but declining.”

Read the full article at The Dallas Morning News.

Financial Landing 2015

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