Millennials Look To 401k Returns To Fund Passion Projects

By Jessa Claeys | 401K Specialist |

Over 80 percent of Americans feel it’s important that their work and their values align. And Millennials, more than any other generation, seem gung-ho when it comes to making this a reality.

Two in five employed Millennials believe the will have the financial resources at some point to take a year from traditional work to pursue a passion project.

According to a recent study, 21 percent of working Millennials (ages 18 to 34) said they would need $15,000 or less to pursue a passion project or activity, such as launching a nonprofit or embarking on an artistic pursuit, for one year or longer.

Meanwhile, 29 percent of employed Gen Xers (ages 35 to 54) anticipated needing $1 million or more to do the same thing.

The survey, conducted by Harris Poll on behalf of Swell Investing, indicated almost 30 percent of Millennials who invest said they would look to returns to fund this endeavor. Survey results showed 24 percent of Gen Xers agree.

Read more at 401K Specialist.