Millennials & Money
Dan Celia Looks at the Financial Goals of Young Americans in 2020
January 21, 2020
PHILADELPHIA—Many New Year’s resolutions to eat better, exercise more or spend less time on smartphones may have already gone out the window by mid-month. But for those who resolve to be better stewards of their money, nationally syndicated host and biblical investing authority Dan Celia hopes the goals stick.
New research from Barna and World Vision found that millennials especially are thinking about their financial futures, as they consider their goals for the next decade. With over 15,000 interviews in nine countries, the project titled “The Connected Generation” discovered some 18- to 35-year-olds had already become financially independent from their parents (46%), bought a home (21%) or started a business (15%). Goals for the 10 next years included: buying a home (53%), starting a business (36%) or becoming financially independent from their parents (30%).
“I enjoy hosting town hall meetings and financial seminars all around the country, and I find that, city-by-city, attendees are becoming younger and younger,” said Celia, who leads Financial Issues Stewardship Ministries. “Millennials, and in some cases, Generation Zers, are starting early to financially plan for the future. They are already thinking about eliminating debt, preparing for retirement, funding their children’s educations and being able to give to the causes that are close to their heart. I’m greatly encouraged.”
To support Celia’s experiences with young Americans, a new article in Financial Advisor magazine pointed to a survey of over 1,000 adults that found that a majority of “investors under 50 with a religious affiliation say they invest with those religious values in mind. … Religiously affiliated millennials are particularly concerned about adhering to their values, the survey said. Sixty-three percent of millennials … reported that it is extremely or very important to them that their financial advisor share those principles.”
However, few investors have been asked by their advisors about their religious beliefs and how they relate to investing—73% of clients overall have not discussed with their advisors whether their values should be taken into consideration when investing. Older investors were the least likely to have discussed religious values with their advisors (90%), while about 40% of those aged 23 to 34 have discussed the link between values and investing.
Celia discusses headlines like these on his daily, three-hour “Financial Issues” program, heard on more than 660 radio stations and several television networks nationwide, including FISM.TV, viewed on several post-cable television platforms and online.
Read more about Celia, FISM and “Financial Issues” or visit the FISM website, its Facebook page, on YouTube at Financial Issues with Dan Celia or on Twitter @financialissues; download the FISM app here.
To book Financial Issues Stewardship Ministries’ Dan Celia, contact Media@HamiltonStrategies.com or Patrick Benner, 610.584.1096, ext. 104, or Deborah Hamilton, ext. 102.