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Michael Stoler Real Estate Newsletter

06/03/2013

Inside the Money Mindset of the Millennials: Generation Y- age from 18 to 34

 While my generation is considered the Baby boomers, the youngest generation of is considered the "Millennial generation "or Generation Y, which ranges in age from 18 to 34. This is a generation which has been raised during the stock market crash and the great recession. In April, Lab42 a market research firm analyzed the mindset of Millennails, gaining insight into their savings and spending habits overall.

Among the highlights, they found that nearly 9 in 10 Millennials create a budget for themselves, with the majority saving money and paying off debts. When it comes to the extra money from their paychecks, they found that 66 percent of Millennials save it, and 18 percent use the surplus to pay off debts. Just 14 percent spend their spare cash.

Millennials with debt appear to be particularly budget-conscious. Of the 60 percent surveyed who have some form of debt, 83 percent budget a specific amount each month to pay it off. The number one form of debt was credit card debt (50 percent), followed closely by student loan debt (49 percent) while 34 percent are paying car loans; 33 percent are paying a mortgage and 10 percent have loan from parents or family member.

This generation often have to seek financial assistance with 55 percent of them have had to borrow money at some point from a parent or friend to cover expenses.

This generation who have excess cash flow is planning for their retirement with 52 percent contributing to a 401K and 26 percent contributing to an IRA.

When the subject if residence, a total of 64 percent of renters and homeowners have 3 months of rent or mortgage saved.

To keep an eye on spending and budgeting, Millennials increasingly rely on tech-based solutions: over half (52 percent) use a banking app to manage their bank accounts from smartphones and tablets. 42 percent have used the mobile check deposit feature from a banking app to deposit money into their bank accounts by taking photos of checks.

 The personal financial application "Mint" ranks in number one position as the top personal application and software followed by your bank's application; Microsoft Money; Quicken and Moneybook.

Michael Stoler

Presents:

The Money Summit:

Navigating the marketplace for real estate debt

Wednesday, June 26, 2013

8 AM to 11 AM

CUNY Graduate Center, 365 Fifth Avenue, New York

The Money Summit

www.themoneysummit.com

Hear from

Senior Real Estate Finance & Banking Executives

Insight on navigating the marketplace for real estate debt

Keynote speaker

One on One:

Michael Stoler in conversation with

Rick Lyon, EVP & Head of Commercial Real Estate

Capital One Bank

Keynote panel:

James Carpenter, Sr. EVP & Chief Lending Officer,
New York Community Bank

Kevin Cummings, President & CEO, Investors Bank

Peter D'Arcy, President, New York City Region, M & T Bank

Melissa Farrell, Managing Director
Prudential Mortgage Capital

Matthew Galligan, President, Real Estate Finance, CIT

Daniel Harris, EVP & Chief Lending Officer
Dime Savings Bank of Williamsburgh

Michael Sarkozi, Managing Director
J.P. Morgan Chase

Thomas Zale, Managing Director
Northwestern Mutual Real Estate Investments, LLC

For additional information & registration

visit

The Money Summit

www.themoneysummit.com

for additional information

call

Michael Stoler

(office) 646-442-0717

"The Real Estate Market in 2013: Or Have we returned to 2007?  

 

    

The Stoler Report: Real Estate Mkt-2013-OR-is it 2007?

The Stoler Report: Real Estate Market-2013-OR-is it 2007?

 

Guests:

Thomas Lydon         City Investment Fund

Gino Martocci          M & T Bank

Mitch Rutter             Essex Capital Partners

James Orphanides  Centurion Holdings 

 

The Stoler Report-New York Business Report airs 8 times a week on CUNY TV

Tuesday:                        2:00 AM,  11:00 PM

Wednesday:                   8:30 AM, 2:30 PM, 10:30 PM

Friday:                           5:30 AM

Sunday                         12:00 AM 

Sunday                         10:30 AM 


Broadcasts are available on the Internet at

 

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 STOLER REPORT ON ITUNESMICHAEL STOLER TELEVISION

 

Michael Stoler Television 

The Stoler Report airs Four times a Week in East Hampton & Montauk

Airing on WEGTV Channel 22

 

 

 

This week on Building New York-New York Life Stories

 

Debuting: Monday, June 3rd, at 10:30 AM

 

 

A lively conversation with Joseph Mattone, Chairman, Mattone Group

BuildingNY: Joseph Mattone Sr. Chairman, Mattone Group LLC.

Building New York:New York Life Stories
 Joseph Mattone Sr. Chairman, Mattone Group LLC.

 


          

This show airs on CUNY TV in New York City  will debut on Monday at 10:30 AM, and will be re-airing on

Monday                        10:30 AM, 4:30 PM & 10:30 PM 

Wednesday                   5:30 AM 

Thursday                      11:30 PM 

Saturday                      12 Noon & 12:30 AM 

Sunday                         6 PM

Building New York-New York Life Stories airs on

Tuesday evenings 

 9 PM and 12 Midnight on Direct TV and JLTV around the nation.

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Greater Philadelphia (including South NJ) Channel 288
New Jersey (Comcast) New York & Philadelphia suburb-Ch 288

Nationwide - Channel 366 Call 877-7MY-JLTV for Free Installation

Atlantic Broadband:

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Bright House:

Detroit (Livonia, Redford, Farmington) - Coming, Summer 2013
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All past broadcasts of Building New York: NY Life Stories are available on the Internet:

The show also airs 5 times a week in East Hampton & Montauk, airing on WEGTV Channel 22.  

  Available on the Internet

STOLER REPORT APP FOR IPAD & IPHONE

BUILDING NEW YORK: NY LIFE STORIES

BUILDING NEW YORK ON ITUNES

MICHAEL STOLER TELEVISION

 

 

 

06/03/2013 - 19:01

Source

Stoler Report

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