These cash-flush millennials are spending wisely

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  • Some millennials are making big bucks right out of college.
  • Experts say these recent grads may want to save as much as two years of living expenses, in case of an emergency.
  • Paying off student debt right away is not always the smartest thing to do.

When Taylor Wilson graduated from college, he had about $1,000 saved.

Now the 24-year-old economist has a mortgage and is looking for a second home.

Wilson’s situation might seem unusual.¬†About a third of those¬†between 18 and 24 have just $1,000 in a savings account, and only 6 percent of first-time homebuyers were under 25 last year, according to Adam DeSanctis, a spokesman for the National Association of Realtors.

Wilson, who makes about $90,000 annually between his job at the Labor Department and a tutoring side-hustle, is part of a small percentage of recent graduates with annual incomes close to six figures.

 

 

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