The leading edge of the millennial generation (those born between 1982–2004 or 1980–2000, depending on the source) is now entering its prime spending, household formation and employment years. This 90 million-strong cohort is the largest and most diverse in U.S. history. The group currently controls about $2 trillion in liquid assets, according to Wealthfront. By the end of the decade, that number will grow to $7 trillion. From there, it will grow exponentially as millennials enter their prime earning years while receiving a massive wealth transfer from their boomer parents. The economy will be feeling the impact of millennial choices for decades to come.
According to the Goldman Sachs report Millennials: Coming of Age, this group has grown up during a time of technological change, globalization and economic disruption. That has given them a different set of behaviors and experiences than their parents.
Entering the labor market during the re