Millennials’ average net worth more than doubled during the pandemic, and real estate makes up more than one-third of their financial assets — here's what experts say should be their next focus
However, millennials who recently bought homes may have significant debt, the report found. Nearly 63% of millennial debt is home mortgages, followed by almost 36% in consumer credit.
He said millennials may be"losing financial ground in the long run" if monthly mortgage payments prevent them from fully funding their retirement accounts.While older millennials in their early 40s should aim to If most of your wealth is home equity, it may be wise to focus on building retirement plans or a brokerage account, he said, suggesting 20% to 25% of gross income annually for long-term investments.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Are you a millennial? Your net worth has likely doubled since the pandemic began (but there's one big caveat)Are you a millennial? Your net worth has likely doubled since the pandemic began (but there’s one big caveat)
Read more »
Illinois Coronavirus Updates: Lolla Guidelines, Long COVID in KidsHere’s what you need to know about the coronavirus pandemic across Illinois today.
Read more »
Virtual graduates get to attend Lincoln university ceremonyBishop Grosseteste University is inviting back ex-students who missed out during the pandemic.
Read more »
Lenient public school standards leave students feeling unpreparedOPINION: 'Like many other students, I am frustrated to see rigorous instruction slipping away.' Adam Abolfazli, a recent SFUSD graduate, opines about the 'misguided practices' that leave students concerned about their future.
Read more »
Macklemore is nearly 2 years sober after relapsing during pandemicThe “Thrift Shop” rapper first shared on Dax Shepard’s podcast in April 2021 that he had relapsed during the pandemic while his 12-step meetings were virtual.
Read more »
The Nationals Have No Choice but to Trade Juan SotoThe Nationals will have made a big mistake if Juan Soto is still on their team Aug. 3 Tom Verducci explains why they are probably going to trade him within the next week 👀
Read more »