The Economic Innovation Group and Ernst and Young surveyed 1200 millennials and found that, basically, everything sucks.
Coming of age during a historic economic downturn has severely impacted Millennial life
* 30 percent of respondents live with their parents, which rises to 40 percent for single respondents.
* Nearly one-third believe their local community is still in a recession.
Stress levels run high for Millennials
*78 percent of Millennials are worried about having good-paying job opportunities.
74 percent are worried they won't be able to pay their healthcare bills if they get sick.
79 percent are worried they will not have enough money to live on when they retire.
Only 6 percent of Millennials feel they are making a lot more than required to cover basic needs. For Millennial women, the figure is only 3 percent.
63 percent would have difficulty covering an unexpected $500 expense.
44 percent would dedicate $5,000 in lottery winnings to paying off bills and loans, signaling a struggle to launch, save, and invest.
[Economic Innovation Group]
The Quiet Desperation of Millennials
[Yves Smith/Naked Capitalism]