WORK-LIFE BALANCE / DEC. 08, 2015
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December Millennial Data

Millennials, similar to their Generation X predecessors, are valuing being a parent more than a spouse. In addition, a new report suggests that a growing number of millennials want the government to suppress free speech. Experts say tech-savvy millennials are least prepared for cyber attacks, whereas advertisers and digital marketers are spending big dough to get the attention from millennials. And, as the years go by and millennials earn serious money, Generation Y is seeking advice from Baby Boomers. 

See AlsoNovember Millennial Data 

These are the five biggest millennial data discoveries over the past 30 days.

1. More Millennials Want Government to Gag People

After seeing what has transpired on university campuses across the United States over the past month, is it any surprise that a growing number of millennials want the government to gag people and suppress free speech? 

If you think this is an exaggeration then take a gander at the latest research from Pew. 

The research institution released the results of a new study that found 40 percent of millennials want the government to intervene if somebody utters offensive speech. Indeed, it is still in the minority, but this is far greater than Generation X (27 percent), Baby Boomers (24 percent) and Silents (12 percent) who wanted the government control and limit potentially offensive speech. 

Ostensibly, this is also a political issue, too. Democrats are more likely than Republicans to support suppressing free speech: 35 percent and 18 percent, respectively. 

Here is what Breitbart opines: 

"Despite the worrying increase in those against free speech, the United States of America turned out to be the most freedom-loving country on its own, with only 28% in favor of government regulation on speech, while Germany had a troubling 70% in favor, the most out of the all countries in the study. The United Kingdom was the most freedom-loving country in Europe, with 54% favoring free speech." 

’Breitbart’

With safe spaces, trigger warnings and political correctness dominating the post-secondary dialog, is anyone truly shocked by these numbers?

2. Parenting vs. Spouse: Which One is More Important?

Although we’re constantly inundated with articles about how millennials are stuck in a perpetual state of childhood, there are many cohorts of the Generation Y population who are married with children. What researchers are looking at is how millennials value marriage and parenthood. 

A new report from the Pew Research Center (PWC) found that millennials - aged 18 to 29 - are a lot more keen on the titles of mother and father rather than husband and wife. According to the study, 52 percent of millennials said being a good parent is one of the most important things in life, while less than one-third (30 percent) shared the same sentiment about being married. 

Moreover, millennials are less likely than adults over 30 to hold the opinion that children can’t grow up in a one-parent household or that the idea of single parenthood is a bad one. 

This isn’t a figure that came out of nowhere. Ostensibly, this started in the Generation X era. At the time, a similar study found that 42 percent of Gen Xers espoused their value of parenthood and 35 percent for marriage. 

Now, not too many millennials are actually hitched with children. Only 22 percent of millennials today are married, which is fewer than the 30 percent of Gen Xers at the same point in their lives and the 40 percent of Baby Boomers. 

Do millennials want to get married and have children? You bet. Seventy percent of unmarried millennials want to find the love of their lives and have children with that person. Will it happen? Only time will tell.

3. Tech-Savvy Millennials Unprepared for Cyber Attacks

Millennials are the most savvy generation in history when it comes to technology. Everything has gone digital and mobile. Whether it’s watching motion pictures on the bus or showcasing the most intimate of details with the world on Facebook, millennials are in love with technology, and it won’t end. However, they’re the least prepared for any potential cyber threat. 

New research from Norton Cybersecurity finds that 79 percent of Americans say identity theft is the biggest concern right now and 63 percent would prefer to go on a bad date than have to deal with the fallout of a security breach. A majority of others also say that children have a greater chance of being bullied online than on the playground and Wi-Fi is more harmful than the public bathroom. 

The report discovered, however, that millennials view themselves as being better to handle the various online dangers, whether it’s Wi-Fi networks or privacy settings on a mobile phone. In fact, a third of millennials gave themselves an A+ for online security and 38 admitted they "aren’t interesting enough" to be targeted for digital crime. 

It was the opposite for Baby Boomers: most gave themselves a poor rating and believes they’re the likeliest of targets of online crime. 

Researchers say the perceptions are incorrect. It’s the Baby Boomers who are safer on the Internet and it’s the millennials who are insecure. How come? It’s simple: passwords. 

Although millennials identify the importance of secure passwords and understand the dangers of the online world - most say it’s more hazardous to give a friend their password than lending them their car - they aren’t doing enough to protect their password. 

Here are a couple of important findings from the report: a majority of millennials are likely to use weak passwords and a majority of millennials are likely to share their passwords. 

Considering that Americans were victims of nearly $30 billion in cyber crime over the past 12 months, it’s about time that millennials start to improve their passwords.

4. Advertisers Spending More to Get Millennials

Turn, an ad data and analysis firm, published a new report that found advertisers are spending 500 percent more on digital media to reach millennials than on any other kind of media to reach all other age demographics. 

With 75 million millennials aged 18 to 35 in the U.S., who also happen to have a great amount of expendable income, advertisers are working diligently to get them. 

Here’s what the research found: 

  • Advertisers are spending four times as much on display ads. 
  • Advertisers are doling out four times as much on social media marketing. 
  • Advertisers are putting out four and a half times as much on mobile ads. 
  • Advertisers are budgeting six times as much on video ads. 

Overall, Turn concluded that millennials are "the greatest market opportunity the world has ever seen." 

There are four distinct points when looking at millennials: 

  • Struggling Aspirationals (57 percent) 
  • Successful Homeowners (18 percent) 
  • Active Affluents (17 percent) 
  • Comfortable TV Watchers (8 percent) 

By understanding the fact that not all millennials are the same and utilizing these types of categories, digital marketers can quickly tap into the psyche of certain millennials and generate big ad bucks that way.

5. Bank of Mom and Dad Giving Advice to Millennials

Several years following the Great Recession, millennials are finally beginning to earn some serious dough, not as much as their predecessors but still pretty good. As millennials start to notice more money in their bank accounts, they want sound financial advice. Ostensibly, they’re turning to their parents for this sage advice. 

A new report from Ameriprise found that millennials with investable assets equating to more than $25,000 are more likely than any other generation to depend on advice from someone else. Who is this someone else? Reportedly, it’s their mother, father, other family members and other older people. 

Since 61 percent of millennials in the U.S. are expected to spend more this year, which is a lot more than the 26 percent of Gen Xers and Baby Boomers, they will need all of the advice they can gather. The research has highlighted the fact that millennials are a lot more careful as to how they spend their dollars, which contradicts the standard perception of millennials. 

For the most part, millennials want to own things, but are concerned about the aspects of ownership. This is why millennials lease or rent stuff as opposed to buying them outright, the report says. But these risk are also prompting them to lose out on opportunities, like stocks - only 18 percent of millennials are adamant about owning stocks. 

“While millennials may have a tendency to be more impulsive about certain decisions, recent research leads me to believe that the majority are really trying to learn from what their parents went through and are using that knowledge to make informed financial choices,” 

’Marcy Keckler’

says Marcy Keckler, vice president of financial advice strategy at Ameriprise, in an interview with the Globe and Mail. 

Although millennials will solicit the advice of financial planners and online tools, the biggest source for aid is mom and dad.

See AlsoOctober Millennial Data 

While a new report says that millennials value parenthood over marriage a growing and startling number of millennials want to quash the First Amendment. Contrary to current beliefs, tech-savvy millennials aren’t that really prepared for a cyber attack, even less so than Baby Boomers. Marketers are spending 500 hundreds times more on advertisements for millennials than any other generation. Finally, millennials aren’t just turning to their parents for money, but also for financial advice. 

What do you think were some of the biggest findings for millennials over the past 30 days? Let us know in the comments section... 

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