Millennials With Stockpiles of Cash Are Looking for Advice: New York Life

November 2, 2021 by Michael S. Fischer

Thanks to deferred student loans during the pandemic, fewer daily expenses and forgoing leases to move in with their parents, 29% of millennials in a poll released Tuesday by New York Life report that they have built a nest egg, saving an average of $4,241.21. Moreover, more millennials now say they are open to guidance from a financial professional. 

According to the poll results, the slowdown in costs was the primary driver of increased savings among younger generations, with 61% of millennials experiencing pandemic-related deferred expenses. 

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Originally Posted at ThinkAdvisor on October 26, 2021 by Michael S. Fischer.