Millennials dream and they dream big. According to a new survey, even if they are broke young people are confident they will one day become millionaires.
Fusion’s Massive Millennial Poll surveyed 1,000 Americans aged 18-to-34 on whether or not they felt they would to be a millionaire in their lifetime. Twenty-eight percent said yes.
And, Black millennials were the most optimistic that they’d reach seven figures–46 percent say they will get to millionaire status. On gender lines, 38 percent of the men polled think so — compared with 19 percent of women. Even older millennials (32 percent among those aged 30-34) and college grads (31 percent) had high expectations of becoming millionaires.
These get-rich dreams seem very optimistic since 28 percent of these millennials don’t even hold down full-time jobs. A whopping 40 percent still get financial support from their parents, and 46 percent of them still live with their parents.
Even 19 percent of millennials with college degrees said they still don’t have full-time jobs. Six percent are unemployed.
Most millennials have a long way to go to reach a million. According to Fusion, the top one percent of millennial income earners took in just about $129,000 in 2013. But 28 million or so people between the ages of 18 and 34 neither go to school or earn more than $10,000 per year. Pretty depressing numbers.
Seems like it is going to take a lot of work–or luck–for many millennials to become millionaires. But don’t tell them that.