Why Millennials Are Financially RUINED


Here is why Millennial Wealth is the lowest it’s ever been and why they’re not investing – Enjoy! Sign up to Morning Brew today for FREE: Add me on Instagram: GPStephan

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A study from the Federal Reserve found that Millennials own less than 5% of ALL US Wealth…DESPITE making up THE LARGEST Portion of the work force.

CNBC says that, because many millennials entered the workforce during the Great Recession, they started out with lower salaries than they would have made otherwise, and that’s a big reason for this pay drop.

And as it turns out, those early years of developing a career are instrumentally important for building up your income…it was found that, during the first 10 years of work, people experience 70% of their overall wage growth – and entering the workforce a time of recession, led to an average of a 9% loss of income right off the bat.

It’s also no surprise more people are entering the workforce – that means employers can be pickier about who they hire, and pay LESS because there are MORE people wanting the same job. This competition means employers don’t NEED to increase salaries, because they have no problem filling those positions with people willing to work.

And even though there CAN be benefits of getting a college degree…and it CAN be a pre-requisite for securing a job…it’s certainly becoming a lot more common, and therefore, less impactful towards getting a boost in salary. Studies have shown that the value of a college degree really seemed to have peaked in the late 1990’s…and since then, it’s been a slow decline given the skyrocketing cost of education.

Also, during a recession, employers are often quick to cut and decrease salaries…but during the GOOD TIMES, they’re much SLOWER to raise them back up. And again – the data backs this up, showing that we’re just NOW getting back to the point we were at…10 years ago.

That means that, today…we have to be more careful than ever to seriously evaluate the benefits of college, and whether or not it’s worth it for the career you want. Most likely, less expensive options, trade schools, or community college would be a better fit instead of pouring money into a 4-year private education…but as it stands right now, more money spent on schooling, combined with lower wages…equals less money can be put towards building wealth.

It’s also INCREDIBLY important to realize that, at the end of the day – all the income in the world won’t help if you don’t consistently SAVE AND INVEST, so that way, you can participate in the markets going up in value over time. As it is now, income and wealth seems to be self fulfilling…the people who make more money, invest more…and because they invest more…they make more money.

Likewise, the opposite happens when you don’t have money…you don’t make as much, you don’t invest, and because you don’t invest…you don’t make as much. It’s so important to break that cycle and start investing AS SOON AS POSSIBLE…even if it means cutting back on extravagances, switching jobs, working a side hustle, or doing ANYTHING YOU CAN just to get in the game…it’s so important just to start, and stay as consistent as you can.

For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at

*Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.



Robert Dunfee


  1. SonicBoomC98
    July 15, 2021 at 1:34 pm

    I wonder if part of the reason is because millennials spend a lot of time coming up with reasons and explanations for why they're broke. I'm sure lifestyle creep has nothing to do with it. I'm sure it has nothing do with some either go to college or don't, then still have no drive to do anything with their lives. Then we try to disguise it as not wanting the hard life our parents had. Using all your PTO as soon as you get it and not wanting to get out of bed before 10AM has nothing to do with it either

  2. Buzz Media
    July 15, 2021 at 1:34 pm

    It's almost like it doesn't matter what the reason is that they're not accruing wealth, it shows that they're bunch of losers. You could look at a basketball team that came in first and one that came in last and look at the reasons why, it doesn't change the fact that one team is much better than the other. Sadly, these are low quality people, which is the direct result of living in this pathetic WOKE culture.

  3. Yessir
    July 15, 2021 at 1:34 pm

    Honestly I’ve moved up from 15 to 20 an hour only by switching jobs

  4. port nut
    July 15, 2021 at 1:34 pm

    Missed the collapsed RE market??? Last time that happened was 08. Should have again but thanks to Chinese corps it may never.
    Stop selling to them and buy American when possible. If we all do our part it may just make a difference.
    They are buying every fn piece of RE nationwide which jacks sales and rent prices out the roof.

    City county state, gub, overseas contract, military….all very stable jobs that offer decent benefits. They pay for your education to move up to better jobs internally. If you have no education or do and cnat find a job take ANY job here…then move laterally. Once youre in the system youll never need a to look again. Unions are the best!

    When by biz took a crap in 08 I couldnt find a job….in my 40s. GED no education job history…above choices saved my bacon .Forced into a medical reitrment due to health which sux…pays notihng but its a steady check Ill get for life. Not many opps like that now.
    Retired at 53 its not so bad.

  5. aubrey norton
    July 15, 2021 at 1:34 pm

    Boomers screwed us and won't even acknowledge that they did. I'm excited about mulching them and writing the history books about that dogshit generation.

  6. Mohammad was illiterate
    July 15, 2021 at 1:34 pm


  7. Adriana Hernandez
    July 15, 2021 at 1:34 pm

    It’s because maybe just maybe the baby boomers are taking advantage of us, because aren’t they now the ones at the top of companies ? Idk idk a theory

  8. A Banerjee
    July 15, 2021 at 1:34 pm

    "Job markets reward talent" (which is understandable), but does not reward loyalty!" Why the heck? A loyal worker is like a family!

  9. FordFalcon1962nBlue
    July 15, 2021 at 1:34 pm

    low paid jobs, cost of living increases, inflation, bad healthcare affordability, outrageous spending, but sure its cause of us right? WRONG.. got your batch of dumb karens blaming starbucks and lesbian dance study and liberal arts like the popular conservative tagline as the culprit.. right those are why US healthcare sucks, education is expensive, cost of living is high, debt is up, savings are down, and why the US economy has to prop everything up with all the outrageous inflation…sure…w/e you say boomers

    July 15, 2021 at 1:34 pm

    Easy answer. Bad choices. If you make bad choices in life, you get bad results!

  11. MA2I
    July 15, 2021 at 1:34 pm

    Man your video sucks, all you've been doing is campainging your useful advice as expected. You are just regurgitating facts that have been around for a decade now.

    Million user subscription channels are overrated

  12. ragerDuane
    July 15, 2021 at 1:34 pm

    The value of education is inflating. Yet, all these crybabies want college to be free for everyone, which would further inflate the value of college education, making their current situation even worse.

  13. Julia Nam
    July 15, 2021 at 1:34 pm

    This guy’s greed is out of control. Ad after ad, and in between – lengthy sponsor narrative with a just a touch of semi-useful recycled content, and oh yeah – don’t forget to smash the like button. Such disrespect of viewers and their time.

  14. Zhen Shops
    July 15, 2021 at 1:34 pm

    The old point annually paste because target phenomenologically bury with a mean blowgun. roomy, amusing raven

  15. Travis
    July 15, 2021 at 1:34 pm

    Tis why cryptocurrency is our last hope to build wealth of our own…everything else has been swallowed up by the wealthy

  16. Michael
    July 15, 2021 at 1:34 pm

    You're supposed to read MorningBrew while drinking your morning brew, not before. You fail, Graham.

  17. Pandorash8
    July 15, 2021 at 1:34 pm

    My late husband and I worked hard to earn our net worth. I was just thinking the other day about what friends of ours are going to do in the future. But then I remembered that most of them will get a healthy inheritance (I won’t. But I’ve earned enough not to need it). So, I guess one day Millenials will own some of the wealth Boomers currently have… not the best plan A lol.

  18. nicholas dean
    July 15, 2021 at 1:34 pm

    Graham complaining how millennials are screwed. When the things that screwed Millennials massively benefited him.

  19. knepri
    July 15, 2021 at 1:34 pm

    Switch every 2-3 years you say? laughs in European If you have had 3-4 jobs in the past 5 years, some companies won't hire you here as it shows that you will just leave for something better soon enough, so why bother? Which means you might have a hard time even finding a job if you start switching them to get something better

  20. Kiesha Andrews
    July 15, 2021 at 1:34 pm

    i never hit the like button on videos. not because i dont like them, i just dont think about it. keep reminding us! i literally need a reminder in order to remember. thank you and you're welcome!

  21. Bingus
    July 15, 2021 at 1:34 pm

    Winging and complaining gets you no where. Go get that bread, and hopefully student loan debt gets forgiven

  22. ccpwrlft
    July 15, 2021 at 1:34 pm

    Americans should just come to Europe to get their degrees. Cheaper, high standards and takes 3 years instead of 4. Also in the UK masters programs take a year to complete

  23. Christy Samuel
    July 15, 2021 at 1:34 pm

    this is why Americans elected trump…my life has never been more better than now…wages are increasing…will see how Biden does

  24. MJ L
    July 15, 2021 at 1:34 pm

    As a Millennial who has looked into changing careers, it is tough. The only job experience I have is in one industry, and if I were to start a new job in a different industry (if I would even be considered over another more qualified candidate) I would need to start at the bottom making less money at first because I do not have any experience in that field. I guess it wouldn't matter if I had savings to rely on…

  25. kubetail12
    July 15, 2021 at 1:34 pm

    A 4-year college degree can still be done right and affordable. Another danger of degree inflation however is that students can be pressured to get a masters or a Ph.D. This could add to your debt, but usually if your smart enough to get into graduate school you can be supported by some assistantship or fellowship, especially in STEM fields. However if you get a crappy research advisor and/or project, then expect to be there for awhile unless your just that amazing. Now you're loosing years in the workforce, even if your goal is to be a professor. Fellowships are need based now, so if you get a side job that will affect your FASFA and will reduce the amount of the fellowship.

    So, if you're going to do a masters or Ph.D. make sure you have a clear purpose and plan. Don't let them talk you into doing extra publications and measurements because it will help with a job. That's BS. Also, if an experiment/project has had several students change to a different project, then that is a VERY bad sign.

  26. TN Bode
    July 15, 2021 at 1:34 pm

    I’m 14 and I’ve been doing landscaping and other side jobs for my neighbors and I was just wondering what would be a more stable job for someone my age

  27. Henrik
    July 15, 2021 at 1:34 pm

    Avoid student loans at all cost!

  28. DropkickOfTheCentury
    July 15, 2021 at 1:34 pm

    "Fine another job" yeah, where? Our generation would be fucking lucky enough to find that first "Stable" job to begin with.

  29. Brian Ramirez
    July 15, 2021 at 1:34 pm

    I’m Gen Z and I’m chilling

  30. Meme NN
    July 15, 2021 at 1:34 pm

    There is also an issue of saving in America. This is for all wealth brackets and Americans on average only save 4-8% of their salary/wages each year. (7.9% on average in 2019)

  31. no body
    July 15, 2021 at 1:34 pm

    You won't have anything on tell your 40.

  32. nakia bellamy
    July 15, 2021 at 1:34 pm

    I just got a new job that will allow me to go back to school and will compensate me. So I’m thinking of getting certifications with technical software or something in computers.

  33. Michael Robert
    July 15, 2021 at 1:34 pm

    I wish the young people well cause they really need it. Stop wasting your time on spending your hard earned pennies trying to look cool. Work hard at your current level or you will never rise to a higher level. Things do get better over time. Yes I know the situation sucks, but it sucked for older people too even though the statistics don't emphasize that. It just sucks even more nowadays.

  34. Justinikus
    July 15, 2021 at 1:34 pm

    Step 1: Strip power and control over your own life away from domestic abusing boomers and domestic abusing wives and ex-wives, and dismantle the family court kleptocracy. No progress can be made with tyrants in control stealing the disposable portion on your income for themselves.

  35. Thomas Reynolds
    July 15, 2021 at 1:34 pm

    What about the outrageous rent costs? Why doesn’t that factor into this equation?

  36. 177SCmaro
    July 15, 2021 at 1:34 pm

    Inflation. You keep voting for people who want to increase government spending and no one wants to pay for it so they do the easy thing, they borrow and print money, which is taxing children and the unborn who will have to pay for it by accepting less money/value in the future for their labor. That is what is happening to you right now because of what the precious generations did. Most of this is just the market responding to this.

  37. 177SCmaro
    July 15, 2021 at 1:34 pm

    Well, Millenials are not exactly known for their deferral of gratification…🙄 might have something to do with it.

  38. Lisa Shoko Tatsuno
    July 15, 2021 at 1:34 pm

    34 yr old millennial here graduating college in 2008 at the start of the Great Recession. If I could do it over again: don't waste your time in majors like philosophy, womens studies. Get a technical degree like nursing in college, invest aggressively in stocks from the start, so you have steady capital to do what you really want to do in the arts or whatever.

  39. B Strong
    July 15, 2021 at 1:34 pm

    Covid certainly didn't help the situation.

  40. Ancap Mgtow
    July 15, 2021 at 1:34 pm

    Dear boomers, please put us in your will. Thanks.

  41. Jason S
    July 15, 2021 at 1:34 pm

    “Job hoppers are more loyal?“ That sounds like people that are more likely to be alcoholics do not cause most of the alcohol related accidents!

  42. Holly Dillion
    July 15, 2021 at 1:34 pm

    Take a shot every time he says "algorithm"

  43. Rachael Santiago
    July 15, 2021 at 1:34 pm

    Thank you Jesus for your blessings I see those who do serve you prosper

  44. Fresh Urb
    July 15, 2021 at 1:34 pm

    More proof that government schools do nothing to increase intelligence or wisdom. They are a poor ROI and you have to be a moron to stay in them for any amount of time longer than what is required

  45. Corentin C.
    July 15, 2021 at 1:34 pm

    What is said here hurts me too much emotionally. And yes, he is correct.

  46. John Mariani
    July 15, 2021 at 1:34 pm

    Yes but…boomers starting their careers in the 70s to early 80s had cheap education, but runaway inflation and a horrible job market. The economy sucked, wages were low, and not keeping up with inflation. Every generation has headwinds to deal with.

  47. Jean Paul Jean Paul
    July 15, 2021 at 1:34 pm

    Millennials are choosing programs that won’t lead to successful careers that generate wealth…what’s that, there is always a need for a Communications degree! and yes, they are lazy and entitled.

  48. RubyGreen
    July 15, 2021 at 1:34 pm

    We are in trouble because the housing market is going so high that us millenials can barely afford to live on our own. Am I the only one? May I add I live in Idaho which used to be 400 to 600 dollars for rent now that people come in making costs up the Idaho's minimum wage is barely enough for millennials to afford to save and also pay rent. People from richer areas are offering more money to the sellers and since they do that they expect higher rent from your millennials in that state making 7. 25 per hour paying 1000+ for rent per month

  49. Ethan Bazinet
    July 15, 2021 at 1:34 pm

    But 5% now is at least on par with 20% back in the baby boomer day