Joke all you want about their penchant for six-figure student loans and $18 avocado toast, for many millennials the strategy for confronting financial chaos is no strategy at all.
Are they confident? Yes. Doing well? Not exactly, as just 27% of millennials feel confident handling a diverse portfolio of assets, according to a survey issued by Equitable.
That gap between surface confidence and actual readiness is exactly where an advisor tends to help, and it is also why SmartAsset built a matching tool that connects people with up to three advisors in their area after a short questionnaire, with free initial consultations and no obligation to hire.
Millennials’ Unboxed Chaos
Millennials have so many reasons to want to look away and try to sound brave. It’s not just because, as the preliminary University of Michigan Consumer Sentiment Survey revealed, most consumers are feeling anxious about spending and where the economy will end up.
That general anxiety becomes quite specific when you drill down to millennials’ key concerns. Not only have 3 out of 5 millennials and Gen Zers reported draining their bank accounts and hitting overdraft in 2025, according to a US News survey, but 38% have also recently missed credit card payments.
According to a recent survey by Intuit, 61% of adults see money as their primary life stressor and 54% state they have financial regrets from 2025 that are impacting them right now. Other bad things millennials have besides stress and regret? Debt—lots of it.
They have the highest average student loan amounts ($40,238) next to Gen X, ($44, 240) and the largest share of student debt. Millennials also get to be best with how much they owe on their mortgages. …
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