If you walked a mile in your prospective members’ shoes, what would you experience today? Chances are, the experience would be markedly different from your own – particularly if you aspire to attract more Millennial members. That’s not only true when you compare the existence of a typical established financial services executive with a young up-and-comer or recent grad. It’s also true when you compare your younger self to today’s young adults. Reality today has shifted, and with it the financial challenges facing a new generation. Consider a few of the current issues facing Millennials today, then consider how you’re addressing these challenges in real, deliberate ways through the products and services you offer: Middle Class Lifestyle Feels Like Distant Dream According to the MacArthur Foundation’s third national How Housing Matters Survey, 69 percent of Millennials think it’s harder to achieve a middle-class lifestyle today than it was in previous generations. Their challenges:
- 76 percent say it’s harder to save for retirement.
- 77 percent say it’s harder to own a home.
- 65 percent say it’s more difficult to obtain stable, affordable housing.