The millennial generation is wired very differently from the preceding ones, and it is different from the upcoming generations. This may seem like an obvious statement, but it is more blatant when you look at how millennials are thinking about money and future planning. An article from NerdWallet, “Millennials, Don’t Forget Estate Planning”, discusses this difference.
Millennials view money differently. They grew up during the recession and many came into deep student loan debt. Their plans for life are also different. Millennials are all about accomplishments and experiences. Traveling is not just on the bucket list for millennials, it is often checked off many times over. It comes as no surprise that estate planning is not on their to do list among consistently striving for new achievements, planning new travels, and moving through young life milestones. Millennials are focused on living life; the idea of their fast-paced lives coming to stop and what that means is not on their radars. Yet, it needs to be.