I honestly don't know what to believe. Stats can be manipulated ie stats like most people dont have $500 in savings. Well savings accounts don't pay crap so of course nobody lets money sit in savings, that doesn't mean they don't have money in crypto, vanguard, stocks, checking accounts, cash, gold, silver, etc.
Not saying this isn't true but stats can be manipulated and the media loves doing these articles about how screwed millenials are, yet the next week I'll see an article about how a huge percentage of millenials have over $100,000 in savings. Of course they kind of twist which ages fall into millenials. It used to seem the media meant under 25 years of age however now were seeing millenials tagged as being upwards of 40 years of age.
Very interesting discussion though. I think some millenials are screwed and some saw what happenned in 2008 and are taking their finances seriously.