“BOSTON, Aug 28, 2008 (BUSINESS WIRE) — Fidelity Investments today released new research on Generation X and Y1, whose combined population will represent 60 percent of the U.S. workforce by 20102. The research indicates that when it comes to how both generations view and make decisions about money, they are often conflicted between their intentions and actions.”

Read the full story here 

With three college-age kids, I can say that the majority of this report sounds accurate.  Concerns over post-college debt and online banking are two conversations we are all having right now in the Fields home.

There is a great article on Marketing Daily today about Gen Y and their future needs for financial advice.

I am most concerned about our rising tuition costs and the amount of student debt college kids are accumulating. They enter adulthood with 25,000 on up to $200,000.00 in student debt, and they struggle for years just to make ends meet. Then, to add to this, many are not receiving the financial support and counseling they need at a time when it is so critical. Parents and educators can help by teaching their children about saving and investing. As I always say “Save and invest early and often.” If you invest $50.00 per month for your child for 18 years, this can add up to a healthy savings for college. This $50.00 is about 12 trips to Starbucks each month.

For the Gen Y’s who need advice, I highly recommend David Bach’s work. It is spot on!

Millennial Leaders 

 “Before you go calling the new group of youngsters following in the footsteps of generation X generation “why”, you might want to take a look at their spending habits. There could be some good investment opportunities in a number of listed companies that are starting to take notice of these trendsetters”.

Great article on Generation Y and spending.

From The Big Chair 

Anya Kamenetz has a great post today on Yahoo Finance about the issues facing young voters. A big concern? The economy.

Several more senior leaders have been telling me that Gen Y does not seem concerned about the economy, but this is not what I am hearing, and Kamenetz’s opinion is more in line with what I am hearing.