It’s time to get real about your wealth

Planning for your financial future is important, especially when you have time on your side. Not sure how? At RBC Wealth Management, we combine our in-depth knowledge with innovative technology to guide you.

Take the next step

RBC Wealth Management surveyed 1,000 high-earning and high-net-worth millennials to understand their needs, wants, pain points and preferences when it comes to money management. Here’s what we found:

Financial security

Eighty-four percent of millennials agree they spend a lot of time thinking about their financial security, but many are unsure of what they need to do to attain it.

ESG investments

Eighty-four percent of millennials say it’s important to consider environmental, social and governance (ESG) factors and that ESG investments are an integral part of their investment strategy.

Early retirement

Fifty percent of millennials plan to retire before age 65–but they don’t want their parents’ retirement. Many seek to establish passive sources of income—or side hustles in the gig economy—and reinvent themselves in retirement.

When you define your financial goals, it’s easier to plan for, act on and achieve them. In the RBC Wealth Management survey, we identified three common goals millennials have. Do they align with yours?

Plan for long-term wealth

  • Managing an inheritance
  • Thinking about the eventual transfer of your estate

Make a difference

  • Using impact and socially responsible investing strategies
  • Supporting the people and causes you care about

Retire early and well

  • Creating passive income sources
  • Exploring higher-risk investing with the expectation of higher returns

Millennial

  • Plan for long-term wealth
  • Make a difference
  • Retire early and well

Quiz: Test your wealth mindset

Identify strategies to help you take your finances to the next level—and compare your answers with the results of RBC Wealth Management’s The millennial mindset 2021 survey.

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Survey says:

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We’ve created a wealth insights report to understand the next generation’s needs, wants, preferences and their relationship with money management.
Create your ideal financial future with help from an RBC Wealth Management financial advisor.

The millennial mindset survey was conducted in December 2021. Respondents were born between 1981 and 1996 (millennials) and residents of the U.S. Of the 1,000 survey participants, 750 are high-net-worth (defined as having investable assets of more than $1MM) and 250 are high-earning (defined as having $250K+ in household income and between $100K and $999K in investable assets).

Investment and insurance products offered through RBC Wealth Management are not insured by the FDIC or any other federal government agency, are not deposits or other obligations of, or guaranteed by, a bank or any bank affiliate, and are subject to investment risks, including possible loss of the principal amount invested.