Financially Successful Millennials Share Certain Characteristics
A new report from the American Enterprise Institute (AEI) and the Institute of Family Studies highlights the shared characteristics among millennials who experience financial success and stability. The Millennial Success Sequence: Marriage, Kids, and the “Success Sequence” Among Young Adults argues that millennials are most likely to avoid living in poverty if they follow a particular sequence of life events: getting at least a high school degree, working full-time, marrying, and then having children. The study finds that millennials who follow this “success sequence” are significantly more likely to land in the middle or high end of the income distribution and are less likely to be poor, regardless of the income level of their parents.