Millennials are referring to anyone who is born between 1981 and 1996. The millennials on the furthest end are turning 40, while the youngest millennials are still exploring their career paths in their 20s. As the largest working cohort, the millennials are facing more financial stress than ever before.  

 

 

The 3 biggest financial challenges millennials face

 

 

1) They need to pay their bills

 

There is a popular saying: If you want to raise a kid, prepare 4 million. According to the Investor and Financial Education Council, the most significant financial challenge that millennials face is the education expense of their children, including their tuition and textbooks. Besides that, the millennials have to pay extra for their children’s extracurricular activities, leisure events, and travel expenses. All these costs can take up an average of 9% of the millennials' income. On the other hand, 53% of the interviewees will still need to provide their parents around HKD 3,000 to $7,000 every month,18% provide up to HKD 7,000 to $11,000. The millennials have become the bread maker for their parents and kids, under these circumstances, how can they stably grow their wealth? 

 

 

2) Rising cost of living 

 

“Have you bought a flat yet?” is a question that traumatizes all the millennials. Hong Kong has one of the highest costs of living, and they are struggling to own a cozy home while paying their bills. According to The Economist’s Worldwide Cost of Living 2020, Hong Kong has ranked top 7 in utility bills around the globe, and is also one of the most expensive places to buy a property. The price can go up to HKD 240,000 per square meter in urban areas, ranking first in the world. Millennials can hardly afford a small flat, even if they starve themselves to death. 

 

 

3) Retirement plan that is forever postponing 

 

We always dream of reaching financial freedom, yet it is not as easy as we thought. After years and years of hard work, we finally got the promotion that we wanted. Yet, our salaries are not enough to outpace inflation. We dreamt of retiring early or traveling the world, but the high inflation has turned our goals into a pipe dream. 

 

Be a Millennial with a Plan!

 

Is there any solution for millennials to step out of the vicious cycle? We always think that investing takes up enormous time and can be risky to our wealth management. AQUMON is here to provide a solution.

 

AQUMON analyzes over 2000 ETF globally. Taking asset scale, management fees tracking errors, and liquidity into account, AQUMON engineers the most optimal solutions catering to investors' risk preferences.

 

AQUMON provides investors with preference customization in the dimension of risk level, industry, and regions, varying its choices across asset classes, capitalization range, and geographic locations. Out of 16,968 possible combinations, we aim to provide the most optimal choice based on your level of interest.

 

Early retirement, prepare your kids for the best schools, building a quality life: those are the goals most of us want to achieve. What better way than to invest in the future now.

 

Download the AQUMON mobile app and sign up today so you can start building your wealth!

 

 

 

 

About us

AQUMON is a Hong Kong based award-winning financial technology company. Our mission is to leverage smart technology to make next-generation investment services affordable, transparent and accessible to both institutional clients and the general public. Through its proprietary algorithms and scalable, technical infrastructure, AQUMON’s automated platform empowers anyone to invest and maximise their returns. AQUMON has partnered with more than 100 financial institutions in Hong Kong and beyond, including AIA, CMB Wing Lung Bank, ChinaAMC, and Guangzhou Rural Commercial Bank. Hong Kong University of Science and Technology, the Alibaba Entrepreneurs Fund, affiliate of BOC International Holdings Limited, Zheng He Capital Management and Cyberport are among AQUMON's investors. 

 

The brand is held under Magnum Research Limited and is licensed with Type 1, 4 and 9 under the Securities and Futures Commission (SFC) of Hong Kong. AQUMON is also licensed by the U.S. Securities and Exchange Commission (SEC) and the Asset Management Association of China (AMAC).

 

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