# 6 Financial Assets for the Wise Millennial

The average millennial is described as drowning in debt, without much savings and as investing too conservatively. This does not paint a very promising picture for this generation. But a study by Schwab’s indicates that the financial standing of many millennials is not as grim.

For instance, about a third of millennials have a financial plan and a documented financial plan. This is in contrast to the two generations above them, the Gen Xers and Baby Boomers. In these generations, only 20% and 22% respectively have taken a similar step.

Similarly, it has been brought to light that millennials are more likely to have specific financial goals than their older counterparts. They are also more likely to seek the services of investment advisors and regularly rebalance their portfolios.