Millennials at 40

In 2021, the oldest Millennials (born 1981-1996) turned 40. As they reached this milestone, what are their biggest concerns and worries? What are their hopes for the future? What plans are they beginning to make?

They are planning for retirement.

Millennials are trying to make sense of a financial landscape that has been in constant flux since they became adults. They have been through two major economic recessions, and they have struggled to find footholds in their careers. Now, as they enter their middle ages, they are planning for retirement and figuring out the best ways to invest what savings they do have. It is a scary prospect for them, as they feel they have been burned by the economy before.

They are settling down.

Many Millennials are finally reaching a place of stability in their professions and careers. They might be partnered with a long-term significant other or spouse. They are hoping to purchase their first home, or move from their starter home to a second-home. If they don’t have children already, that is potentially on their minds. As Millennials move into their 30s and 40s, they are ready to settle down and find contentment in their next chapter of life. 

They are looking for a promotion.

Professionally, Millennials have encountered great difficulty in advancing their careers. Often, in order to receive a pay raise or a promotion, they’ve had to move to an entirely different company altogether, often in another city or state. Coupled with the delayed retirement of the Boomer generation, this makes “getting ahead” in their careers much harder. Over the next couple of years, Millennials will be hoping to land that big promotion and secure the job that they’ll be in for the next decade of their life. 

They are thinking about their health.

As they enter their thirties and head toward forty, Millennials are starting to get serious about their health, diet, and lifestyle. Before, they may have dieted and exercised solely for the sake of appearance. Now, they realize they need to think about the other aspects of their health, including annual physicals, preventative exams, and wellness check-ups. The generation long-prized for their youthful nature is starting to have their age catch up with them, and their health is paying the toll.

They are starting to consider mortality.

Many Millennials are even starting to think about end-of-life issues, if not for themselves but for their parents and grandparents. They may be beginning to reconcile relationships with older family members that have been estranged. They will be introducing their own kids to their great-grandparents, realizing that there may not be many years ahead of them. Perhaps they have helped put together a will and long-term care plan for their own parents or family members. As they enter into their second-half of life, Millennials are beginning to reckon with the reality that life is short and temporary.