Understanding Affluent Millennials

As researchers at Chirp, one of our favorite things to do is take a deep dive into an exploratory topic that is timely and relevant to our society.

In this case, Chirp partnered with Investopedia to talk to affluent Millennials (23-38 year-olds with a household income > $100k) about topics such as . . .

  • What are their financial goals?

  • What keeps them awake at night?

  • When (and from whom) did they learn about finance?

  • How do they feel about investing?

  • How did/does parental financial experience impact their current financial habits?

  • What is their outlook on the future?

We also had selfish reasons to enjoy this study. We are a team of Millennials who have Googled things like: “What is a Roth IRA?,” “I don’t buy lattes every day, how am I supposed to save money?,” and “Please just explain the stock market in terms a five-year-old would understand.” So, we found this study to be not only intellectually stimulating, but an opportunity for learning and growth. And boy, did we learn.

What did we find? Affluent Millennials Don’t Think They’ll Retire By 65

More From Investopedia:

The Affluent Millennial Investing Survey

30% of Affluent Millennials Have Lied About Their Spending or Investing Habits

Read More:

Many Affluent Millennials Don’t Think They Can Retire By 65 – Financial Advisor

How millennials can overcome their fear of investing – MSNBC

Millennials Expect Working Retirements, Study Finds – Fortunly

From Our Client:

“Working with Chirp was a complete pleasure. We wanted to go beyond the obvious and stereotypical, and really look to understand Millennials and their financial behaviors and attitudes. The team at Chirp not only executed the research flawlessly, they were an incredible thinking partner in helping us develop exactly what we wanted to ask and how best to do so. After the research was completed, they remained incredibly collaborative and responsive and made my team’s jobs easier. The work itself has had an impact for us on multiple fronts–it is helping us think more deeply about how to reach Millennials with our finance content on Investopedia and The Balance; it is providing thoughtful learning that leads to deeper conversations with our partners; and it is generating great engagement with media. I look forward to working with Chirp again in the future!”

Joetta Gobell, VP, Research & Insights – Dotdash

Have a big question you’d like to explore? Contact us!