For some insights on where young adults stand, The Globe and Mail’s personal finance columnist Rob Carrick collaborated with polling firm Abacus Data and yconic, which provides youth market research and operates StudentAwards.com. The result was a poll in which 1,538 people aged 15 to 33 were asked earlier this year about their hopes, plans and current financial reality.
Rob chose some of the charts that surprised and sometimes worried him the most about Generation Y’s finances and outlook on life.
Browse the results and read Rob’s thoughts on the findings below each chart.
Rob Carrick will answer Gen Y personal finance questions on Twitter on Wednesday (hashtag: #genYmoney).
Ages 25-29: Have you started a full-time job in your field?
Yikes, close to 75 per cent of 25 to 29 year olds have not yet started their careers.
Ages 25-33: Are you currently saving for a home?
Save, Gen Y, save. Baby boomers need you to buy their homes.
Ages 25-33: Are your parents helping you with a downpayment?
One-quarter of 30 to 33 year olds are looking for downpayment help. Nope, no affordability problems in our housing market.
Ages 15-33: Will you have a better or worse life than your parents?
Most Gen Yers are cool with their prospects. Cancel the revolution.
Ages 25-29 and 30-33: Are you saving for retirement?
House or retirement saving – choose one.
Gen Y: How many think you'll never be able to retire?
Freedom 110, anyone? Gen Y, ask your parents about that one.