Millennials Cash Savings Leave Little (Or No) Room For Mistakes, Says FCA

It is not only the US that is being “destroyed” by the Millenial generation. According to the UK’s Financial Conduct Authority, the mean amount of cash savings held by 25 to 34-year-olds is £11,000, which is less than half the £25,000 for the average UK adult. However, this mean figure is misleading because it’s warped by high earners. According to the 200-page Financial Lives Survey 2017 (12,000 survey participants) published by the FCA, “One in five (19%) 25 to 34-year-olds have no cash savings whatsoever, and a further 30% have cash savings of less than £1,000.” [timeless] Even If Millennials Gave Up…