millennials

CBS This Morning: Forever Renters

Many Americans in their 20s and 30s may have given up on the dream of homeownership. Nearly half of millennial renters say they have not saved a dime for a down payment to buy a home. I joined CBS This Morning to discuss why many millennials could be permanent renters and what it means for the housing market.

Are We in Good Shape for Retirement?

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As is often the case on the show, somebody calls up asking one thing and the discussion turns into a full-blown retirement planning call. That’s what happened with Bill in Illinois who did a great job of saving for retirement, but what about his asset allocation? Is it where it should be?

Millennials want to learn how to start investing. The problem is that most have no idea where to begin. There's a significant lack of information out there catering to the concerns of new millennial investors, such as:

  • Should I invest while paying down student loans?

  • How do I invest in a socially responsible way?

  • What about robo-advisors and apps, are any of them any good?

  • Where can I look online for investment advice?

That’s why we’re happy to have Erin Lowry back on the show to discuss her latest book, Broke Millennial Takes On Investing: A Beginner's Guide to Leveling Up Your Money.

In this second book in the Broke Millennial series, Lowry answers those questions and delivers all of the investment basics in one easy-to-digest package.

Tackling topics ranging from common terminology to how to handle your anxiety to retirement savings and even how to actually buy and sell a stock, this hands-on guide will help any investment newbie become a confident player in the market on their way to building wealth.

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BONUS call: Student Loan Debt

Help! I'm drowning in debt thanks to high interest student loans. My mom has the money to help. Is it worth having a conversation? That's the dilemma facing Megan from North Carolina on the latest BONUS call.

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“Better Off” is sponsored by Betterment.

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#360: Human Capital and the Making of Millennials

This week we're starting the show with Campbell in South Carolina who's wondering when it's time to start thinking about a home purchase. Keep in mind that Campbell is only in his 20s.

Next up was Allen from Dallas who wanted to run his 529 plan strategy by us.

Our final call of the hour was from Lisa in Washington. Lisa and her husband essentially gave up their lives to care for Lisa's parents, who have both since passed away, and are now wondering how to get their financial lives back on track. Great call that required two segments.

Hour two this week is all about the millennials as we're joined by Malcolm Harris, whose recent book, Kids These Days: Human Capital and the Making of Millennials, does an excellent job of detailing the struggles facing the younger generation.

Millennials have been stereotyped as lazy, entitled, narcissistic, and immature.

But according to Harris, there are quite a few traits that really unite millennials, including:

  • Being the most educated and hard-working generation in American history
  • Pouring historic and insane amounts of time and money into preparing ourselves for the 21st century labor market
  • Millennials consider working for free (homework, internships) a privilege for their own benefit
  • Millennials are poorer, more medicated, and more precariously employed than their parents, grandparents, even great grandparents, with less of a social safety net to boot

One way or another, we're all connected to a millennial, so spread the word about this episode!

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Retirement by Generation

Retirement by Generation

You’ve seen the frightening surveys that say Americans are ill prepared for retirement,
but let’s start the year on a more pro-active foot. It’s time to jump-start your savings
plan and to help out; I’m going to break it out by generation.