By some counts, adults born after 1980 aka, Millennials or Generation Y control $2 trillion in liquid assets. Within the next six years, that number will surge to $7 trillion. Some may think were lazy and entitled, but were ripe for the picking assuming we actually figure out how to grow our wealth. And in a panel at the Forbes Under 30 Summit in Philadelphia on Monday, three of the people trying to figure out how to make financial service sites that Gen Y will actually use gave tips on how to do just that.
A 2013 survey noted that Millennials are the generation that are the least likely to be on track for retirement. People arent paying as much attention to them and they are falling behind and falling further behind. Alexa von Tobel, Josh Reich and Jon Stein CEOs and founders of planning site LearnVest, banking service Simple and investing site Betterment, respectively are paying attention, and they think that smart technology paired with some smart budgeting (and saving, and investing) will help Gen Y get on track for not just retirement, but all of their financial goals.