#360: Human Capital and the Making of Millennials

This week we're starting the show with Campbell in South Carolina who's wondering when it's time to start thinking about a home purchase. Keep in mind that Campbell is only in his 20s.

Next up was Allen from Dallas who wanted to run his 529 plan strategy by us.

Our final call of the hour was from Lisa in Washington. Lisa and her husband essentially gave up their lives to care for Lisa's parents, who have both since passed away, and are now wondering how to get their financial lives back on track. Great call that required two segments.

Hour two this week is all about the millennials as we're joined by Malcolm Harris, whose recent book, Kids These Days: Human Capital and the Making of Millennials, does an excellent job of detailing the struggles facing the younger generation.

Millennials have been stereotyped as lazy, entitled, narcissistic, and immature.

But according to Harris, there are quite a few traits that really unite millennials, including:

  • Being the most educated and hard-working generation in American history
  • Pouring historic and insane amounts of time and money into preparing ourselves for the 21st century labor market
  • Millennials consider working for free (homework, internships) a privilege for their own benefit
  • Millennials are poorer, more medicated, and more precariously employed than their parents, grandparents, even great grandparents, with less of a social safety net to boot

One way or another, we're all connected to a millennial, so spread the word about this episode!

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