These are the 7 boomer money habits millennials left behind — and what they’re doing instead

Group 1: Real Estate Investment Platforms - Crowdfunding platforms like Arrived are enabling millennials to invest in rental properties without the need for a down payment, allowing them to earn dividends [1] - Arrived offers SEC-qualified rental homes and vacation rentals, providing flexible investment options for both accredited and non-accredited investors [5] - Mogul, another real estate investment platform, allows fractional ownership in high-quality rental properties, offering monthly rental income and tax benefits without hefty down payments [6][7] Group 2: Generational Wealth Disparities - Boomers have accumulated significant wealth, with 73% of U.S. wealth owned by individuals over 55, while millennials face high home prices and mortgage rates, limiting their market access [4][5] - The average home sale price for boomers in 1988 was $110,000, compared to the current high prices that millennials encounter, making homeownership less attainable [2] - A survey indicates that 84% of boomers view homeownership as a symbol of financial security, contrasting with millennials' challenges in achieving the same [3] Group 3: Investment Returns and Security - Mogul's properties undergo a vetting process that requires a minimum 12% return even in downside scenarios, with an average annual IRR of 18.8% and cash-on-cash yields averaging between 10% to 12% [8] - Each investment is secured by real assets, ensuring that investors own the property through standalone LLCs, which adds a layer of safety through blockchain-based fractionalization [9] Group 4: Financial Management Tools - Wealthfront Cash Account offers competitive interest rates, currently at a base variable APY of 3.30%, with a promotional boost for new clients, making it an attractive option for millennials [14][15] - Personal finance apps like Rocket Money help users track subscriptions and manage finances, which can aid in redirecting savings into retirement funds [26][28]