How has the recession impacted Echo Boomers (Gen Y, born between ’77 and 94’)? Well…maybe you should ask their parents.

Our consumer surveys indicate Echo Boomers remain relatively unscathed from this recession. Many are still in school and those that aren’t are establishing careers, beginning families and just starting to settle into their “adult” lives. Their parents still have a major impact on them.

While Boomers and Gen X adults have been deeply impacted by the “Great Recession,” Echo Boomers wake-up call comes from seeing themselves in 25 years through their parents’ situations today. These young adults are quickly gaining a new appreciation for the importance of retirement savings, and they’re actively planning for their financial futures.

How do you think this will change as the economy recovers? Will young adults follow their frugal dreams of today, or will they be sucked into the cycle of spending and debt that Gen X has suffered?

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