MILLENNIAL MILESTONES: FIRST JOB,
FINANCIAL DECISIONS ARE SIGNS OF
GROWING UP FOR GEN Y
From: www.thehartford.com
HARTFORD, Conn., February
18, 2014 (BUSINESS WIRE) –
Getting their first job and making
financial
decisions
make
Millennials (ages 18-31) feel like
adults, according to The Hartford's
Gen
Y
Speaks
Survey.
More
Millennials said they feel grown up with those two
events compared to moving out of their parents' homes
and starting a family.
"Gen Y is growing up and redefining everything,
including what it means to be an adult," said Lindsey
Pollak, Millennial career expert and spokesperson for
The Hartford's My Tomorrow Campaign. "While
Millennials are moving out1 and getting married2 later
compared to previous generations, they are no longer
kids but leaders who are hitting key milestones in their
professional and personal lives."
The Hartford's national survey found Millennials
consider becoming an adult when:
Getting their first job (51 percent);
respectively). Getting married and landing their first job
tied (32 percent) as the second milestone that results in
the need for disability insurance.
"It is notable that Millennials are waiting until they
have a family to protect themselves with life and
disability insurance, leaving them exposed to the impact
of an injury or illness," Pollak said. "That's why it is
important for them to invest in themselves starting with
their first job. My message to Millennials is: Protect
your potential. You are totally worth it."
After its research showed low understanding of
insurance benefits among Millennials, The Hartford
launched an educational campaign with Pollak in 2012.
The Hartford is partnering with her for a second full
year for its My Tomorrow Campaign. Throughout
2014, she will continue offering career tips and
discussing the latest workplace trends on The Hartford's
My Tomorrow website:
www.thehartford.com/tomorrow.
In addition, Pollak will share her upcoming book on
Gen Y leadership. Set for release this fall, her how-to
book for Millennials includes quotes from Liam E.
McGee, chairman, president and chief executive officer
of The Hartford.
"Our research shows there continues to be a huge
Making financial decisions (50 percent);
educational opportunity with Millennials," said Mike
Moving out of their parents' homes (38 percent);
Concannon, executive vice president of The Hartford's
Starting a family (2 7 percent); and
Group Benefits business. "We are focused on providing
Getting married (23 percent).
resources to help consumers understand their benefit
Forty-two percent of those surveyed said their health
is their greatest asset, followed by their job/paycheck
(26 percent). However, Millennials said starting a
family was the top event that triggered the need for both
life and disability insurance (62 percent and 43 percent
-4-
options, make informed financial decisions, and protect
themselves and their families."
The Hartford and Pollak are continuing the
conversation about adulthood via social media. You can
join the discussion by sharing your grown-up moment