Inglés - C2 - Relax, Millennials! You're Doing Great
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Questions and Answers

According to the text, why do millennials have more stable wages compared to their parents?

  • They have more job opportunities
  • They have a higher level of education (correct)
  • They are more willing to work long hours
  • They have better negotiating skills

    • What is the main reason for millennials' higher salaries compared to their parents?

  • They work harder
  • They have more experience
  • They have more financial assets
  • They have a higher level of education (correct)

    • Why do millennials have more financial assets compared to their parents at their age?

  • They are better at saving money
  • They have more job opportunities
  • They inherited more money
  • They have more access to retirement plans (correct)

    • What is the speaker's opinion on millennials' investment choices?

    <p>They are making good choices</p> Signup and view all the answers

    How does the speaker reassure millennials about their financial situation?

    <p>All of the above</p> Signup and view all the answers

    What is the speaker's opinion on the impact of COVID-19 on millennials' risk outlook?

    <p>It's too soon to tell</p> Signup and view all the answers

    According to the text, what is the main reason for millennials' higher debt compared to their parents?

    <p>They invest more in education</p> Signup and view all the answers

    What is the speaker's opinion on the idea that millennials don't own houses or have children because of their spending habits?

    <p>It's false, millennials are in better financial shape than they think</p> Signup and view all the answers

    According to the text, what is the main difference between millennials and boomers in terms of education?

    <p>Millennials are more willing to invest in education</p> Signup and view all the answers

    What is the most likely context in which this conversation took place?

    <p>A brunch</p> Signup and view all the answers

    Study Notes

    • Millennials are worse off financially than their parents and grandparents were at their age, according to new data from the Federal Reserve.
    • However, economist Allison Schrager argues that millennials are wealthier and more successful than they think they are.
    • More millennials than boomers went to college, so they're earning higher salaries on average than boomers did.
    • Millennials have much more stable wages, partially because when you have a college degree, you're a lot less likely to have a long period of unemployment.
    • Millennials have a lot more financial assets, such as banking assets and retirement assets, compared to their parents at their age.
    • Millennials have much more debt than their parents, but that student debt pays off in higher wages each year.
    • Millennials face a very different world than their parents did, so they have to make certain choices involving investing in education for higher wages because it's just more necessary now.
    • Millennials are making different choices and are investing in other assets, such as their careers and themselves, instead of buying homes or getting married early.
    • COVID-19 may change millennials' risk outlook and how comfortable they are taking risks, which could affect their wealth in the future.
    • The economy is not zero-sum, and millennials have good opportunities ahead of them.
    • COVID-19 can influence risk outlook in different ways
    • People's reactions to COVID-19 vary: some may be more cautious, while others may be more carefree
    • It's too soon to tell how COVID-19 will affect people's behavior in the long term
    • Avocado toast is not the reason why millennials don't own houses or have children
    • Millennials are in better financial shape than they think
    • The speaker believes that millennials are making good choices
    • The speaker reassures millennials that they are doing okay
    • The conversation took place during a brunch
    • The speakers are Vanek Smith and Schrager
    • The text is likely a transcript of a podcast or radio show.

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