Millennials & Income
Today, Justin DeCesare returns as our guest blogger. Justin is the CEO of Middleton & Associates Real Estate in La Jolla, CA. - The KCM Crew
Millennials have become an important topic of discussion for media outlets and blogs throughout the Country. While some argue that my generation is blossoming later than our predecessors, optimists such as myself believe that with our rebounding economy will help Millennials finally arrive in the economic arena that allows them the growth potential generations before us were afforded.
While I truly believe Millennials are positioned to become an important force in the new economy, the widening economic policy that minimizes retirement accounts and creates underemployment of Millennials threatens what is now America’s largest demographic.
In his post for MSN, Austin Thompson points out that Millennials are now in peak childbearing age, and from a Real Estate, as well as a parental Standpoint, what goes hand in hand with raising a family is the desire to own a home.
Families want to put down roots. They want to know they have a certain level of security if possible, while growing some form of equity for retirement.
While slashing pensions and lower wages certainly puts a strain on Millennial workers, the ability to purchase Real Estate can still be a saving grace in the Millennial financial planning process.
As agents and brokers, we are meant to advise our clients. We can’t change the fact that outside economic factors can have a negative impact on the lives of our clients. What we can do is try and help Millennials understand that they can take their future, and subsequently their retirement, into their own hands.
Chances are, your average Millennial client, like their parents, will not be starting out with a beach front multi-million dollar estate. Our job, is to help explain the path that starting in smaller affordable homes now will have down the road, how it will help them grow, and how it will help them take control of their livelihood.
Do more than sell my generation a house…help them build a future.