WealthEngine recently released its 2019 Millennial Wealth Report and it has some really great stats and analysis of this up-and-coming generation.
Millennial millionaires are definitely not the largest subset of the group but now is not the time to sit idly waiting for the Great Transfer of Wealth and for that population to grow. According to the report:
Over half of millennial millionaires are already aligning with causes and putting their dollars to work for the environment, political parties, and much more. Political causes are the #1 choice of millennial millionaires who are weighing in on today’s issues with their donations.
Since millennial millionaires are partnering with organizations and supporting causes to which they feel connected, our relationship building and fundraising efforts as development professionals should begin to shift from the older, more established generations to millennials. Those who have not already aligned themselves will be doing so soon and with the Great Transfer of Wealth by 2030, start the cultivation process early to establish an authentic, personal relationship.
Read more from the report and begin making your plans for including this generation in your pipeline!