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Has the American Dream for Millennials Been Shattered?

August 10, 2016
Pat Bator

Poor job prospects, excessive debt and lack of suitable savings and investing habits have, in the eyes of many observers, put the “American dream” beyond the reach of many Gen Y consumers. This cohort—the Millennial generation—is the largest generational segment in American history and will benefit from one of the greatest wealth transfers in history over the coming years. However, Gen Y’s impact on the U.S. economy and the financial services sector is only beginning to be felt.

In this comprehensive 58-page Research Insight Study, Raddon explores the attitudes and behaviors of younger consumers with regard to financial services to determine how financial service providers can best meet the evolving needs of this segment. This paper covers a variety of topics and issues involving Millennials, and offers financial institutions strategic and tactical considerations when creating a road map to better serve this generation.

Read this study and learn about:

  • Gen Y’s transactional account and self-service delivery channel needs.
  • Savings program and lending support tools that will assist younger consumers in meeting personal financial and retirement goals.
  • Gen Y insights on what they want from a mobile banking platform to enhance their mobile experience.

Inside the Report

Table of Contents: 

Defining the American Dream
Demographics – Who am I?
The Great Recession’s Impact
The Real Cost of Student Loan Debt
An Evolving Lending Market
Is Homeownership Still a Symbol of the American Dream?
Ensuring a Financially Secure Future
Technology’s Role in Reshaping the Gen Y Ethos

Sample Chart(s): 

Attitudes about financial services and providesThe digital natives of Gen Y are on board with mobile payment technology

Study Statistics: 

Date Published
August 10, 2016
Study Length
58 Pages
Number of Charts
Pat Bator