Mission and vision
GENERATION WEALTHY EMPOWERS TEENS AND YOUNG ADULTS TO INVEST IN THEIR FINANCIAL FUTURES.
WE ENVISION A WORLD IN WHICH WE ARE ALL EQUIPPED TO MAKE SMART FINANCIAL DECISIONS.
We believe the best way to spread knowledge to young people is through accessible social media channels. That's why we've developed conversational videos that teach discrete lessons related to personal finance.
There is a lot of evidence to suggest these lessons are sorely needed right now. Here are some facts from reliable sources that made a real impression on us:
- The top reason students give for dropping out of college is financial constraints. (Public Agenda)
- 81% of young adults grossly underestimated the length of time it would take to pay off a credit card balance, and 79% fail to pay off their credit card balances in full each month. (Center for Economic and Entrepreneurial Literacy)
- More than half of all college students have accumulated over $5,000 in credit card debt while in school, and one-third have more than $10,000 debt on credit cards. (Sallie Mae)
- Regardless of income, 70% of US citizens are living "paycheck to paycheck." (The Wall Street Journal)
- More than 50% of pre-retirees underestimate their life expectancy; 40% of Americans are counting on the lottery, sweepstakes, getting married, or an inheritance to fund their retirement. (Walter Updegrave, Senior Editor, Money Magazine)
- A Gallup poll found only about 1/3 of Americans (32%) maintain a household budget.
- Nearly 1 in 5 (19%) Americans have nothing set aside to cover an unexpected emergency, while nearly 1 in 3 (31%) Americans don’t have at least $500 set aside to cover an unexpected emergency expense. (HomeServe USA)
- Americans hold over $999 billion in credit card debt. (Federal Reserve)
- The average 2016 graduate left school with $37,172 in total debt. (StudentLoanHero.com)