Millennials entered the workforce during a period of rapid technological advancements and economic instability Despite facing increasingly complex financial decisions, many Millennials still struggle with low levels of financial literacy.

Millennials face specific financial challenges:

• high student loan debt
• growing housing expenses

The median house cost in the United States is $416,900 as of the first quarter of 2025.

• lower starting salaries

Millennials can mitigate these challenges and increase financial resilience by using diverse tools like investment platforms, retirement plans, and debt management techniques. However, Millennials' reliance on digital platforms for financial information frequently results in a limited understanding rather than deeper financial literacy.

Millennials' consumption habits, which frequently prioritize access and experiences over ownership, can also affect long-term financial planning. This emphasis on immediate fulfillment may lead to reduced savings and investment in key areas like retirement or homeownership.

To navigate these obstacles effectively, Millennials must shift their approach to financial decision-making and focus on long-term strategies.

• Educational programs and online courses

Ask your current employer about available education programs or look for companies that offer them. A 2024 survey by SoFi found that 35% of employees are now seeking financial education from their HR departments, which is a considerable rise from 17% in previous years.

• Mentorship

Attend webinars and conferences that bring together Millennial representatives and those with financial experience.

Recent reports show that Millennials' average household wealth has significantly increased with a median wealth of $100,000. As Millennials enter their 30s, they have over 30 years until retirement, making it an ideal time to start planning for their financial futures. This longer time horizon allows for potential portfolio growth andhelps avoid higher fees associated with late investment. Given these factors, we can expect anincrease in Millennials’ demand for wealth management services in the coming years.

A lack of financial literacy deepens the specific financial difficulties experienced by Millennials. To help them accumulate long-term wealth, these issues must be addressed through mentorship opportunities and focused financial education initiatives.

At Imperial Fund Asset Management, we provide access to essential financial products, including Roth IRAs, 401(k) plans, and brokerage accounts opening through Charles Schwab, helping Millennials navigate their investment options effectively.