Baby Boomers Downfall Will Greatly Benefit Millennials In Cryptocurrency Era

One of the biggest claims to fame of the baby boomer generation has been their wealth and financial luck as they trek towards their final days of employment and the beginning of their retirement.

However, all of their hard work and time spent may be for nothing, since the local state governments lack the funds to fulfill the pension for many consumers. This could easily be a moment that another stock market crash comes tumbling down, leaving the next generation to make a victory for themselves. That underdog victory could cause millennials to seek their returns and profits from the crypto market.

The transition involves approximately 1.1 billion people moving towards retirement, though consumers between 22 and 37 will be making up at least 1.8 billion members of the new financial works. According to research developed by Pew Research, they will be the biggest group of consumers as they reach their prime earning potential in their careers soon. In fact, the research also indicates that they will surpass the financial success of baby boomers and make up about 45% of the global population.

Millennials have much different needs than the generations before them, so corporations will be seeking out their demographic information to make sure they tend to their new audience. However, studies indicate that this will soon be the end of the trillion-dollar industry that has been created by banks, stockbrokers, and similar careers.

Before now, in the 1980s, baby boomers sought the advice of their financial managers to help them take advantage of major drops in stock, trying to strike before the iron was hot again. That forced the stock to rebound, but the millennial generation doesn’t handle their finance in the same way.

The crypto industry was created by this generation, where innovations and entrepreneurs are much more commonplace, whether they are in big or small businesses. It is this part of the industry that makes crypto so beneficial, since they believe that the use of Bitcoin is much more secure that investing with a bank, despite its youth.

However, of the 27% of millennials that hold this belief, only 4% actually hold it. As lucrative as the stock market has been, the millennials have missed out of this opportunity, “because asset appreciation is unlikely to be as rapid in the near future,” says St’s Louis’s Federal Reserve.

Much of the reason that the industry credited this wealthy influx in the market with the baby boomers could be credited to inheritances and the timing of the generation. The generation is part of the end of World War II, after which time they were giving a profitable stock market and major financial boom.

Unfortunately, all of their work may be for naught, since the property crash in 2007/2008 brought down the average wealth of the whole population by 44% through 2010. However, as consumers near the time of their retirement, many seem to be scrambling with their investments to make up the difference. But how does that impact the millennials?

All of these economic and demographic details are what will shape and cause the next major market crash, but baby boomers won’t be able to pick the market back up again. In order for millennials to take it on, the debt would be staggering and overwhelming.

However, since over three-quarters of the millennial generation has been in college, they are still in the middle of paying off their debt for their education, leaving little support for the stock market. The Generation X group won’t seem to have enough wealth either, since their concern will be reducing their risky investments and planning their own retirement.

Japan experienced a similar problem in the 90s, though their deflation has continued ever since. However, they have also been a major presence in the crypto industry since then and has the most liquid exchanges through the entire industry. With the United States holding a similar position in the industry, it’s clear that the stock market will not be the most beneficial part of the industry for young investors.

Even the idea of being a homeowner can be daunting, since less than half of millennials own their home. In fact, in the United States alone, 15% of consumers that are 24 to 35 years old live with their parents. With this kind of trajectory, there are at least a third of all millennial consumers that will never own and will continue to rent throughout their lifetime.

The reason that this impacts the generation is because it keeps them from being considered an investment class. Unless prices drop worldwide, most millennials are likely to use smart crypto investing and entrepreneurship to help them reach their financial goals.

With so much time for the millennial generation to make up for, the cryptocurrency industry may be the best and only opportunity for their investments to reap the same rewards as baby boomers.

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