By Anna Gonzales |Staff Writer|
Seventy percent of millenials remain confident they will one day become millionaires, according to a recent poll performed by Fusion.
Millenials are defined as individuals born in the 1980s or the 1990s, according to Merriam-Webster.
This may be an alarming statistic due to reports published by Fusion stating, “that 28 million people between the ages of 18 and 34 neither go to school nor earn more than $10,000 per year.”
Fusion also reported that 40 percent of the participants in the poll depend on their parents for financial support.
Fusion is a product of a joint venture between Univision Communications and the Disney/ABC Television Network and partnered with Benenson Strategy Group for the poll.
Despite the statistic that 53 percent of the young people polled still live at home with their parents, 97 percent of them were sure they would own a home at some point in their life.
Seventy Coyotes were surveyed with the same questions asked in the Fusion poll to gain insight on the study’s findings in relation to our campus.
According to the Coyote Chronicle poll, 36 percent of students believe they will reach millionaire status during their lifetime, 43 percent believed they would not, and 21 percent were unsure.
“I have the know-how and determination to succeed,” stated an anonymous Coyote.
Student Janneth Milian was hesitant about the possibility of becoming a millionaire because she was unsure about how to become one.
Close to three quarters of the students who believed they were going to become millionaires were employed.
William Cudney is one of the 32 percent who are currently unemployed, but believe they will become a millionaire.
Not having employment while attending school “has drastically increased the value of [his] academic career,” said Cudney.
When asked if the students felt a college degree was worth the expense, an overwhelming 83 percent said yes.
Victor Garcia felt that a college degree is worth the expense but understands it is difficult to assume that it is a worthwhile pursuit for everyone because the reasons for earning a degree vary between students.
“I think [Generation X] put a lot of pressure on younger generations by exaggerating the amount of work it takes to be successful,” stated Diana Sifuentes via e-mail.
“Ever since grade school, I was told that I had to go to college to be successful, and even though I essentially followed this ‘path of success,’ I find everyday that this path is not for everyone,” added Sifuentes.
Sifuentes said that the college path is not for everyone, which is not a problem at all because people can still find success.
She said it merely becomes a question of how one defines success.
Student Cesar Marin defines success as “reaching a point where you are being fulfilled by completing and working on your chosen endeavors.”
When asked if millenials are disillusioned by the idea of reaching a millionaire status, student Giacomo Thillet said, “If they made it this far in college and they’ve worked hard enough, they have fair reason to have those aspirations [of becoming a millionaire].”