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So Money with Farnoosh Torabi

1387: A Close Look at Millennials and Their Money

So Money with Farnoosh Torabi

Farnoosh Torabi

Entrepreneurship, Business

4.71.9K Ratings

🗓️ 25 July 2022

⏱️ 34 minutes

🧾️ Download transcript

Summary

Millennials are all grown up. Some are approaching 40 years of age and wondering, "Why am I not further along?" Guest Charlotte Cowles joins to share insights from her recent New York Times feature entitled, Why Millennials Are Facing More Anxiety Than Ever. In the piece, Charlotte profiles more than 30 millennials from around the United States about their finances. She writes, "Their anxieties were palpable, and painfully familiar — many of them felt behind, indebted, unable to live up to the expectations placed upon them. Even those who were doing well were vigilant." More about Charlotte: She is is a freelance writer for the New York Times and columnist for New York Magazine's The Cut. She writes primarily about money, how we make financial decisions, and why it can be so stressful. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

So money is brought to you by CNET, the site that shows how to navigate change all around us.

0:06.4

So money, Episode 1387, a close look at millennials and their money with Charlotte Coles of the New York Times.

0:15.3

You're listening to So Money, with award-winning money guru Farneesh Karabi.

0:19.8

Each day, in a 30-minute dose of financial inspiration from the world's top business minds,

0:25.1

authors, influencers, and from Farneesh herself.

0:28.4

Looking for ways to save on gas or double your double coupons?

0:32.4

Sorry, you're in the wrong place. Seeking profound ways to live a richer, happier life.

0:38.0

Welcome to So Money.

0:41.8

We're kind of wimpy, failure to launch kids who were always given participation trophies, right?

0:49.2

And now we can't get it together because we don't have the executive function to stop eating avocado

0:55.3

toast or whatever. And millennials are aware of this. It's not like, it's not like we've never heard

1:01.6

this. I mean, millennials have a sense of humor about these stereotypes as well.

1:06.0

Welcome to So Money, everybody. I'm Farneesh Karabi.

1:09.0

Millennials are all grown up, some are approaching 40 years old, and wondering, why might not further

1:16.0

along? And as our guest today says, this has many in this generation afraid. Charlotte Coles

1:22.8

joins us. She's a freelance writer for The New York Times and columnist for New York magazines

1:27.9

of the cut. Her latest piece for The New York Times is called Why Millennials Are Facing More

1:33.2

Anxiety Than Ever. A 2018 report by the Federal Reserve Board, for example, found that

1:39.6

millennials have lower earnings, fewer assets, and less wealth in general compared with their

1:45.9

parents. So Charlotte spent the past several months speaking to more than 30 millennials from across

1:51.8

the country about their money from actors to watchmakers, scientists, comedians, and a common

1:58.4

emotional thread was fear. In our conversation, we dive into some of these profiles. Are there fears

...

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