The new wine is dying on the vine.
Younger respondents in a recent survey sponsored by Boston-based Investment Management reported that they were highly likely to avoid decisions like career changes, home purchases, moving and household formation due to financial stressors.
According to the 2017 MFS Heritage Planing Survey, 80 percent of millennials, aged 21 to 36, have either delayed or say that they expect to delay a major life event. Already, nearly a quarter of millennials have delayed having children and purchasing a home.
Overall, six in 10 of the survey’s respondents said that they have delayed or will delay a major life event due to their current financial situation.
The dark clouds of negative sentiment seem to swirl most around the heads of generation X investors aged 37 to 51, 70 percent of whom said that they would have to delay a life event or have already delayed a life event due to their finances.