Description: The article is about merrill edge login. The head of Merrill Edge explores millennials’ do-it-myself mindset,he also explores the new definition of success in the latest Merrill Edge Report. He is glad to see the change in the Merrill Edge report.
Today’s youngest generations are financially motivated by the lessons of the Great Recession. A decade later,Millennials are proving to be confident and conservative as they take saving investing into their own hands. I’m Erin Levine,I am head of Merrill edge,in our latest Merrill edge report,we take a closer look at how Americans are feeling about the Great Recession,prioritizing investing and defining success.
We learned a few more surprises about Millennials in this report,the biggest thing is this. When it comes to savings,the largest generation in today’s workforce is more self-sufficient and self-reliant than any other generation. When asked about what they’ll be able to rely on most in 20 years,Millennials say their savings account,it is a self created and funded source.
Millennials place greater trust in their own stewardship than they do in their personal relationships with their significant person and friends. In sharp contrast,older generations are more likely depend on outside sources,71% of Gen Xers plan to rely on their 401k accounts,more than half of baby boomers plan to rely on pensions and Social Security.
This millennial do it myself mindset is also evident in their spending decisions as many have started making sacrifices and delaying life milestones to have more money in a long run. The report finds that they’re most likely to cut back on going out,skip vacation for a year and save more than half of their salary,this proactivity appears to manifest itself into conservatism,the majority of younger generations say that they are playing it safe with their investments.
Many Millennials see themselves as more financially conservative than their parents and even their grandparents. Overall,we also found the definition of success is changing across generations. Americans believe making a difference in the lives of those in need is four times more essential to the definition of success than being a millionaire. family also plays a significant role as nearly three-quarters of Americans say providing for family is most essential to their definition of success.
It’s encouraging that Americans more optimistic about their investing habits than they were 10 years ago. Driven in part by advances in technology and a growing economy,they report feeling more responsible forward-looking and successful. Americans are united in thinking success is in the cards for them. 96% of Americans believe they’ve already achieved success or will be successful in their lifetime.
We’re excited to see Americans especially younger generations are confident about their finances with the majority feeling that success is within reach. We’re committed to connecting people’s life. At Merrill edge,we understand that success is not defined by monetary amounts and the road to get there is not the same for everyone,your life priorities and goals are at the core of our work.