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Millennials Need Life Insurance, Too

Millennials Need Life Insurance, Too

If their generation continues to practice many of the habits they’ve begun to establish, Millennials may become one of the most financially responsible generations in history. Millennials are cognizant of the reality that they will need to be active participants in their future security by weaving their own financial safety nets. Surveys indicate that Millennials’ top financial priorities are paying off student loans and saving for retirement before they think about buying a house.
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Financial Services Going Mobile

Financial Services Going Mobile

If it seems that everyone you know age 33 and younger —family, friends and colleagues—always seem to have their mobile device, usually a smartphone, lodged firmly in their hand, you are not imagining things. A recent survey of Canadians by BMO Bank of Montreal confirms that Milliennials, people born between 1981 and 2001, consider their mobile devices to be indispensable to the point that about three-quarters of those asked would feel lost without them.
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Messages to Your Younger Self

Messages to Your Younger Self

Anticipating this year’s graduation season, LinkedIn.com created “If I Were 22,” and asked 80 or so of its Influencers to share advice to their younger selves and by extension, to all young people. It turned into some of the stickiest, most engaging content thought leaders have ever posted.
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American Dream 2.0

American Dream 2.0

According to a recent survey by Credit.com, 25% of the respondents replied that being debt-free was their definition of the American Dream. That seems reasonable. But what was surprising is that it topped the conventional “American Dream” answer of owning a home by eight percentage points. (The most popular response, at 36%, was retiring at age 65.) It’s still too soon to tell if the concern about debt coupled with a reluctance to buy a home is a byproduct of the Great Recession that will fade with time as real estate prices firm (and getting a mortgage becomes easier) or is a reset to our overall relationship to debt. The overall aversion to debt, though, could become a deep-seated consequence of the Great Recession and stay with the Millennials the rest of their lives in a way that’s similar to those who grew up in the Depression.
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The View from Both Sides of Serial Job Changing

The View from Both Sides of Serial Job Changing

Just like during past recessions, these days businesses are doing everything they can to conserve capital, including shrinking—and even eliminating—annual raises for employees. Unlike previous recessions, though, this overall reduction wasn’t temporary: it became the new normal. These days a 3% annual raise is pretty standard. Factoring in an annual inflation rate of about 2%, the typical net salary increase is about 1%.
Filed in: Jobs, Millennials
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