Weekly Recap - September 14, 2018

Email is getting the best of Millennials, Boomers going broke

Hopelessly Devoted to "Inbox Zero"

Young, professional Millennials check their email more often than any other age group. For one-third of 25-34 year olds, the Sisyphean quest for "inbox zero" begins even before they get out of bed (Adobe Consumer Email Survey, CNBC.com, 22 August 2018). They check email in the bathroom (39 percent), while dining with friends (28 percent), at weddings (12 percent) and on vacation (23 percent). At the end of the day, white collar Millennials spend an average 6.4 hours desperately trying to answer every email they receive—about 100 emails. So it should surprise no one that most (two-thirds) feel overwhelmed every day at work Gallup.com, 19 July 2018).

+ Employers are feeling it too. Significant attrition of the Millennial variety recently prompted PwC to reconsider its pressure cooker culture. The international consulting company commissioned a global generational study to stem the tide of resignations. PwC has since introduced several flexible-hours options—something young employees covet more than complimentary avocado toast (2018 Udemy report). Turns out what's good for the Millennial employee is good for all. PwC's workplace is reportedly happier and healthier than ever.

Golden Years, Rusted

When financial recovery seems futile, Boomers seek relief from bankruptcy court.

The Great Recession has dulled the glow of the promised "golden years" for millions of middle-class boomers. So they're appealing to the court of last resort: bankruptcy (WSJ.com, 7 August 2018).

+ Since 1991, the number of Americans ages 65-74 filing for bankruptcy has more than tripled—from 2.1 percent to 12. 2 percent of all consumers, according to a Social Science Research Network study. Meanwhile, the clock isn't working in their favor. Bankrupt older consumers have little chance of recovering; the median debt for 65+ filers is $101,600, three times the amount younger filers owe. Silver lining? Their Xer children have recovered from the Great Recession. Son, spot me a nest egg?

Modeling Modest Behavior

Millennial men expect become millionaires while Millennial women seek balance and flexibility. Young women (ages 21 to 37) entering today's fairly robust jobs market have far more modest financial goals than their male counterparts. She aims to earn an annual salary of $58,000, nearly half of what he expects ($118,000/year), according to a TD Ameritrade study (CNBC.com, 9 August 2018).

+ What gives? It's partly because more women expect to prioritize family during their peak earning years. "Men tend to value money and feel more pressure to provide for a family," says Chris Bohlsen, director of investor services at TD Ameritrade. "For women, it's time and flexibility. The long-term goal is having that work-life balance." Women are also lacking female financial role models—few have even broken into the wide open fintech blog space.

Discounts, Promos and Plastics

Cosmetic surgery advertising has gone unabashedly retail, employing tactics that would make some used car salesmen blush. Given the personal stakes—self-esteem, anxiety, confidence—should plastic surgeons be held to a higher marketing standard?

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