Defying predictions, millennials from the 1980s and 1990s have seen a remarkable surge in net worth since the start of the pandemic. Non-financial assets, particularly home values, have played a pivotal role in this wealth turnaround. Leading to the next logical question: How do we invest in the millennial group?
It is quite simple really. NDR’s Senior Portfolio Strategist Pat Tschosik explains through his in-depth analysis-- spending patterns can be predictable based on where you are in your life cycle.
NDR analyzed 30 major spending categories from Federal Reserve consumer expenditure surveys. Millennial spending categories expected to grow the most over the next ten years tend to fall into four major areas: home-related, entertainment, women's apparel, and healthcare. As millennials age from the 25-34 age group to the 35-44 age group, these areas should be the largest beneficiaries of millennial spending.
Stay tuned for more insights from NDR as we delve deeper into the dynamics shaping the economic landscape and offer actionable strategies for investors. Let us help you See the Signals.™