Grey Bruce Kids Fall 2021

Happy 40th! Where
did the time go?
You grew up so fast!
The first Millennials (born 1981-96) are turning 40 this year. They represent 27 per cent of the
Canadian population.
They have been shaped by the Great Recession (2008-09), as they began to graduate and look
for employment in a very tough economy. Home ownership rates for Millennials aged 30-34
are 51 per cent, similar to Gen-X and Boomers. The Millennials have, however, taken on more
mortgage debt relative to their income. Millennials are also the most educated generation with
70 per cent holding a post-secondary certificate, diploma or degree. With this higher education
comes higher student debt as well.
Is it any wonder that Millennials may be feeling a bit squeezed? What I can say from personal,
as well as 30 years of client experience, is that the years when you are just starting to work,
buying a house, and starting a family are stressful! There are so many things to do, yet never
enough money or time to do them all.
What if I told you that if you concentrate on only three things, you will feel a whole lot less
stress in your life? Would it be worth a couple of hours a month? Either on your own or with
an advisor, if you are able to identify your short- and long-term goals, build your balance sheet,
and set up your income/expenses to almost run themselves, you will have more time and have a
better idea of the progress you are making.
I often find that Millennial clients are running so quickly that they really have no idea where
they’re going! A little bit of upfront work and time, followed by a once- or twice-a-year update,
will save you hours of frustration and stress down the road.
greybrucekids.com • 19