3 Money Musts for 'Clueless' Millennials
With Corporate America in the midst of huge efforts to harness the power of the millennial generation as consumers and employees, the young people being targeted so aggressively are themselves missing the financial boat, according to a top-rated financial adviser.
Millennials, loosely defined as people born in the early 1980s through the late 1990s, are an "almost a clueless generation in so many ways," John Spooner, managing director at Morgan Stanley Wealth Management, told CNBC in an interview.
Author of the book "No One Ever Told Us That: Money and Life Lessons for Young Adults," Spooner said the problem is twofold: Schools aren't teaching young people "particular solutions," and parents are trying to be "buddies with their kids," instead of teaching them to survive in the real world.
In three key takeaways from his book, the Morgan Stanley financial adviser outlines how millennials -- also known as Generation Y -- can succeed in life and in managing their own money.
