When Does Millennials Age Starts? Gen Z, Explained

Understanding the millennial age range, as well as millennial myths and actual facts about how this generation handles money.

millennials age

While overgeneralizing a select group is rarely accurate, in order to understand millennial spending habits and risks;

We have to examine the actual age range and economic climate surrounding the individuals called “millennials.”

If you just want the basics, the millennial age range is roughly 19-39 today. Yes, these aren’t kids – they are adults with the older almost turning 40. Millennials were born between 1982 and 2002.

Millennials Age

There are so many opinions about millennials and how they are either shaping or destroying our economy. Recent news headlines suggest millennials are being too thrifty, thereby killing consumerism.

Others say millennials are ruining their chances of buying a home and incur more debt by overspending on luxuries, lattes, and avocado toast.

Note, this is starting to change a bit on the low end – with many people calling those born after 2000 Gen Z.

What Is a Millennial Age?

There are conflicting opinions about the actual age range of millennials. Some say that people were born between the early 1980s.

However, the early 2000s are categorized as millennials, while the majority agree that those born between the 1980s- and mid-1990s are millennials.

Census bureau results provide that the millennial generation is the generation of children born between 1982 and 2002, some 81 million children who have taken over K-12, have already entered college and the workforce.


What Ages Are The Millennials

Although there is no consensus on the exact years the actual generations begin and end, millennials are usually born between 1982 through 2002.

They were born before computers and cell phones became widespread. But it’s important to note that there are really three groups of millennials;

1. Those that graduated before the great recession

2. Those that graduated during the Great Recession, and post-recession graduates. This has directly impacted the average millennial net worth.

Aside from technology and the recession of 2008, the events of September 11, 2001, also known as “9/11” were the most generation-defining moment for millennials in the United States.

The reasoning for the cut-off date of millennials stems from the theory that individuals born after 2002 were not old enough to understand or be impacted by 9/11.

What Is a Millennial Age Range?

There are numerous conflicting stereotypes surrounding the financial habits of millennials, as this continues to be a hot topic.

This generation will replace the Baby-boomers as they retire. Other sources suggest that the cutoff date for millennials is 2000.

We put the exact date range of millennials as those who are 19-39 today – basically today’s college students to 39-year-olds. That’s a big, big range.

Millennials Age Habits

Some habits seen exhibited during Millenials age.

1. Millennials Are Big Spenders

Historically, the “younger” generation has always been seen as frivolous and spending too much. This is not the first time that the older generation points the finger at the younger generation.

Some experts suggest that high spending and debt combined are causing millennials to move in with their parents.

 2. Millennials Don’t Save Enough

Millennials are actually good savers, saving over 5% of their salary for various reasons such as emergencies, big purchases, as well as retirement.

The recession is probably a huge motivating factor in saving for the future. Recent studies from Transamerica Center show that 75% of millennials save for retirement.

3. Millennials Don’t Spend Enough

Many retailers complain that millennials are responsible for the decline of the retail industry and the closure of department stores.

The majority of millennials came of age during the great recession of 2008 and as a result, frugal habits have been ingrained in their psyche out of fear and unrest faced during this financial crisis.

4. Millennials Are Drowning In Debt

Americans owe more than $1.4 trillion in student loans and the majority of that debt belongs to millennials, according to a survey of 1,000 Millennials by ORC International.

While millennials may be saving their money, the majority of their income is spent on repaying debt, resulting in depleted savings and lower disposable income.

That’s why we recommend services like Pathrise that help millennials get higher-paying jobs earlier in their career.

5. Millennials are Financially Unable to Purchase a Home

While millennials are saving their money for retirement and their first home, debt makes it difficult for millennials to buy their first home right away.

Aside from that, many millennials are waiting to buy their first home until they are financially stable, even before they get married.

While the rise of debt is one factor in the delay to buy property, many millennials have a desire to discover their true self and search for identity and meaning before settling down.

6. Millennials Are Also Big Side Hustlers

They embrace the work from where ever, whenever mentality, and are great at using the online economy to their benefit.

7. Millennials have a tendency to spend money on experiences rather than material possessions.

These “experience” centered spending habits have allowed for the creation and growth of businesses such as Airbnb, which are centered around avoiding high hotel costs.

8. Also, millennials are willing to forego some of the basic luxuries in order to stretch their dollar for spending on experiences by using rideshare services such as Uber.

Aside from ensuring safety while enjoying the nightlife, rideshare services help reduce transportation costs while being mindful of decreasing the carbon footprint.

What Ages Are Millennials

A common source of confusion when labeling generations is their age. Generational cohorts are defined (loosely) by birth year, not current age.

The reason is simple — generations get older in groups. If you think of Millennials as college kids (18 – 22), then not only are you out of date — you’re thinking of a stage in life, not a generation.

Millennials are now well out of college, and that life stage is dominated by Gen Z.

Note: Another example, a member of Generation X who turned 18 in 1998 would now be over 40.

During that time, he or she cares about vastly different issues and is receptive to a new set of marketing messages. Regardless of your age, you will always belong to the generation you were born into.

What Is the Age Group For Millennials

What Is the Age Group For Millennials

The breakdown by age looks like this:

1. Baby Boomers

Baby boomers were born between 1946 and 1964. They’re currently between 57-and 75 years old (71.6 million in the U.S.)

2. Gen X

Gen X was born between 1965 and 1979/80 and is currently between 41-56 years old (65.2 million people in the U.S.)

4. Gen Y

Gen Y, or Millennials, were born between 1981 and 1994/6. They are currently between 25 and 40 years old (72.1 million in the U.S.)

Gen Y.1 = 25-29 years old (around 31 million people in the U.S.)

Gen Y.2 = 29-39 (around 42 million people in the U.S.)

5. Gen Z

Gen Z is the newest generation, born between 1997 and 2012. They are currently between 9 and 24 years old (nearly 68 million in the U.S.)

6. Gen A

Generation Alpha starts with children born in 2012 and will continue at least through 2025, maybe later (approximately 48 million people in the U.S.)

 Millennial Age Range

The term “Millennial” has become the popular way to reference both segments of Gen Y (more on Y.1 and Y.2 below).

Sometimes labeled with the moniker “Zillennials”, those wedged at the tail end of Millennials and the start of Gen Z are sometimes labeled with this moniker — a group made up of people born between 1994 and the year 2000.

Elder Millennial Age

Originally, the name Generation Z was a placeholder for the youngest people on the planet — although Generation A has now taken over that distinction.

However, in the same way, that Gen Y morphed into Millennials, there is certainly a possibility that both Gen Z and Gen A may adopt new names as they leave adolescence and mature into their adult identities.

While the label Gen A makes discussion easier, it may not be the last word on this group of humans.

Why Are Generations Named After Letters?

It started with Generation X, people born between 1965-and 1980. The preceding generation was the Baby Boomers, born 1946-1964.

Post-World War II, Americans enjoyed newfound prosperity, which resulted in a “baby boom.” The children born as a result were dubbed the baby boomers.

But the generation that followed the Boomers didn’t have a blatant cultural identifier. In fact, that’s the anecdotal origin of the term Gen X;

Illustrating the undetermined characteristics they would come to be known by. Depending on whom you ask, it was either sociologists, a novelist, or Billy Idol who cemented this phrase in our vocabulary.

Millennials Age Generation X

From there on it was all down-alphabet. The generation following Gen X naturally became Gen Y, born 1981-1996 (give or take a few years on either end).

The term “Millennial” is widely credited to Neil Howe, along with William Strauss.

The pair coined the term in 1989 when the impending turn of the millennium began to feature heavily in the cultural consciousness.

Millennials Age Generation Z

Generation Z refers to babies born from the late 90s through today. A flurry of potential labels has also appeared, including Gen Tech, post-Millennials, iGeneration, Gen Y-Fi, and Zoomers.

While some say Generation Alpha is named for the first letter of the Greek alphabet and denotes the first of a series of items or categories.

Generation Alpha may also just be an easy way to round the corner into a new alphabet.

Millennials Age Gen Y

Javelin Research noticed that not all Millennials are currently in the same stage of life.

While all Millennials were born around the turn of the century, some of them are still in early adulthood, wrestling with new careers and settling down, while the older Millennials have a home and are building a family.

You can imagine how having a child might change your interests and priorities, so for marketing purposes, it’s useful to split this generation into Gen Y.1 and Gen Y.2.

Age of Millennials

Not only are the two groups culturally different, but they’re in vastly different phases of their financial life. The younger group is just now flexing their buying power.

The latter group has a more extensive history and maybe refinancing their mortgage and raising children. The contrast in priorities and needs is stark.

The same logic can be applied to any generation that is in this stage of life or younger. As we get older, we tend to homogenize and face similar life issues.



The younger we are, the more dramatic each stage of life is. Consider the difference between someone in elementary school and high school.

While they might be the same generation, they have very different views and needs.

Marketing to young generations as a single cohort will not be nearly as effective as segmenting your strategy and messaging.

What Makes Each Generation Different?

Before we dive into each generation, remember that the exact years born are in dispute, because there are no comparably definitive thresholds by which the later generations (after Boomers) are defined.

But this should give you a general range to help identify what generation you belong in.

The other fact to remember is that new technology is typically first adopted by the youngest generation and then is gradually adopted by the older generations.

As an example, 96% of Americans have a smartphone, but Gen Z (the youngest generation) is the highest user.

The Baby Boomer Generation

Boomer Birth Years: 1946 to 1964

Current Age: 57 to 75

Generation Size: 71.6 million

Media Consumption

Baby boomers are the biggest consumers of traditional media like television, radio, magazines, and newspaper.

Despite being so traditional, 90% of baby boomers have a Facebook account. This generation has begun to adopt more technology in order to stay in touch with family members and reconnect with old friends.

Banking Habits

Boomers prefer to go into a branch to perform transactions. This generational cohort still prefers to use cash, especially for purchases under $5.

Shaping Events

Post-WWII optimism, the cold war, and the hippie movement.

Their financial Horizon

This generation is experiencing the highest growth in student loan debt.

While this might seem counterintuitive, it can be explained by the fact that this generation has the most wealth and is looking to help their children with their student debt.

They have a belief that you should take care of your children enough to set them on the right course and don’t plan on leaving any inheritance.

With more Americans outliving their retirement fund, declining pensions, and social security in jeopardy, ensuring you can successfully fund retirement is a major concern for Boomers.

Generation X

Generation X

Gen X Birth Years: 1965 to 1979/80

Current Age: 41 to 56

Other Nicknames: ”Latchkey” generation, MTV generation

Generation Size: 65.2 million

Media Consumption

Gen X still reads newspapers, magazines, listens to the radio, and watches TV (about 165 hours’ worth of TV a month).

However, they are also digitally savvy and spend roughly 7 hours a week on Facebook (the highest of any generational cohort).

Banking Habits

Since they are digitally savvy, Gen X will do some research and financial management online, but still prefer to do transactions in person.

They believe banking is a person-to-person business and demonstrate brand loyalty.

Shaping Events

The end of the cold war, the rise of personal computing, and feeling lost between the two huge generations.

Gen X’s Financial Horizon

Gen X is trying to raise a family, pay off student debt, and take care of aging parents. These demands put a high strain on their resources.

The average Gen Xer carries $142,000 in debt, though most of this is in their mortgage. They are looking to reduce their debt while building a stable savings plan for the future.

Millennials (Gen Y)

Millennial Birth Years: 1981 to 1994/6

Current Age: 25 to 40

Other Nicknames: Gen Y, Gen Me, Gen We, Echo Boomers

Generation Size: 72.1 million

Media Consumption

95% still watch TV, but Netflix edges out traditional cable as the preferred provider. Cord-cutting in favor of streaming services is the popular choice.

This generation is extremely comfortable with mobile devices, but 32% will still use a computer for purchases. They typically have multiple social media accounts.

Banking Habits

Millennials have less brand loyalty than previous generations. They prefer to shop products and features first, and have little patience for inefficient or poor service.

Because of this, Millennials place their trust in brands with superior product history such as Apple and Google.

They seek digital tools to help manage their debt and see their banks as transactional as opposed to relational.

Shaping Events

The Great Recession, the technological explosion of the internet and social media, and 9/11

What’s Next on their Financial Horizon

Millennials are powering the workforce, but with huge amounts of student debt. This is delaying major purchases like weddings and homes.

Because of this financial instability, Millennials choose access over ownership, which can be seen through their preference for on-demand services.

They want partners that will help guide them to their big purchases.

Generation Z

Generation Z

Gen Z Birth Years: 1997 to 2012

Currently Aged: 9 to 24

Other Nicknames: iGeneration, Post-millennials, Homeland Generation

Generation Size: 68 million

Media Consumption

The average Gen Zer received their first mobile phone at the age of 10.3 years. Many of them grew up playing with their parents’ mobile phones or tablets.

They have grown up in a hyper-connected world and the smartphone is their preferred method of communication. On average, they spend 3 hours a day on their mobile device.

Banking Habits

This generation has seen the struggle of Millennials and has adopted a more fiscally conservative approach.

They want to avoid debt and appreciate accounts or services that aid in that endeavor. Debit cards top their priority list, followed by mobile banking.

Shaping Events

Smartphones, social media, never knowing a country, not at war, and seeing the financial struggles of their parents (Gen X).

Gen Z’s Financial Horizon: 

Learning about personal finance. They have a strong appetite for financial education and are opening savings accounts at younger ages than prior generations.

If you want to know more about Gen Z, check out this deep dive into their media consumption and banking habits.

Generation Alpha

Generation Alpha

Generation Alpha Birth Years: 2012 to 20256

Currently Aged: 0 to 9

Other Nicknames: None that have stuck. Often the nickname centers on a defining event or characteristic.

Generation Size: 48 million and growing

Media Consumption

Alphas are being raised in homes with smart speakers and devices everywhere; technology is built into everyday items.

Many of them attended school virtually thanks to the global pandemic and are gravitating toward online learning with programs such as Khan Academy, Prodigy, and IXL.

Many have even had a digital presence before they were born, with their Millennial parents creating social media handles for their infants.

Banking Habits

Although some of the oldest Alphas may have accounts such as Greenlight, they do not have to define banking habits.

They’re digital natives that will expect fully integrated, personalized consumer experiences. Based on current data, it appears that Alphas will be one of the most highly educated and wealthy generations.

It is not clear if their banking habits will be influenced by their parents (i.e. “my parents’ bank here, so do I”) or by other factors.

Shaping Events

Global pandemic, social justice movement, Trump-era politics, and Brexit.

Generation Alpha’s Financial Horizon

As digital natives who view the world through a collection of screens, Alpha’s will be even more disconnected from the idea of cash.

They will likely first encounter money as a number on a screen and spend it through apps and other forms of e-commerce.

Generations Defined by Name, Birth Year, and Ages 

If you do some research, you’ll find that dates overlap and names vary. While we hear generational terms all the time, the definitions are not official.

However, based on widespread consensus as well as a new Gen Z analysis, and the one generation defined by the U.S. Census Bureau (Baby Boomers);

These are the birth years and ages of the generations you’ll want to use in 2022.

Note: Generation names are based on when members of that generation become adults (18-21).




Gen Z

1997 – 2012 10 – 25


1981 – 1996 26 – 41
Gen X 1965 – 1980

42 – 57

Boomers II 1955 – 1964

58 – 67

Boomers I

1946 – 1954 68 – 76
Post War 1928 – 1945

77 – 94

WWII 1922 – 1927

95 – 100

Note: We occasionally break up Boomers into two different cohorts because the span is so large, and the oldest of the generation has different sensibilities than the younger.

In the U.S., Boomers II are just young enough to have missed being drafted into the war.


FAQS on Millennials Age

Some faqs asked about millennials age

1. What age group is Gen Z?

Gen Z is the newest generation, born between 1997 and 2012. They are currently between 9 and 24 years old (nearly 68 million in the U.S.)

2. What age is a Millennial in 2022?

A person born between 1981 and 1996 is a member of Generation Y. In 2022, Millennials will range in age from 26-41 years old.

The median age of the first-time homebuyer is 33. In the U.S. in 2020, there were approximately 72 million Millennials.

3. Are you a Gen Z or Millennial?

A Millennial is anyone born between 1980 and 1995. In the U.S., there are roughly 80 million Millennials.

A member of Gen Z is anyone born between 1996 and the early-mid 2000s (end-date can vary depending on the source).

In the U.S., there are approximately 90 million members of Gen Z, or “Gen Zers.”

4. What age group is a snowflake?

So-called ‘snowflakes’, the controversial term for those aged between 16 and 24, are now the most stressed generation in Britain.

Millennials and Gen Z really ARE snowflakes: Scientists find people aged 18 to 25 are the most upset when they’re labeled narcissistic.

5. What generation are 80s babies?

Generation X, or Gen X, refers to the generation of Americans born between the mid-1960s and the early-1980s.

Members of this group are approaching the middle of their working careers and potential peak-earning years.

6. What is after Generation Z?

Generation Alpha is the demographic cohort succeeding Generation Z.

7. How do you know if you are a baby boomer?

Baby boomers were born between 1946 and 1964.

They’re currently between 57 and 75 years old (71.6 million in the U.S.)

Gen X was born between 1965 and 1979/80 and is currently between 41-56 years old (65.2 million people in the U.S.)

8. Why are Gen Y called Millennials?

Millennials are a demographic cohort or age group, also known as Generation Y. They’re called millennials because they became adults around the time of the millennium.

9. What are the 5 characteristics of Millennials?

1. Millennial Characteristics.

2. Millennials are Tech-Savvy.

3. Millennials Are Family-Centric.

4. Millennials Are Achievement-Oriented.

5. Millennials are Team-Oriented.

10. What are Millennials known for?

Three years ago, millennials overtook Gen Xers and became the largest cohort in the workplace in the United States.

The generation has unique attributes such as being web-savvy, curious, independent, and tolerant.

Millennials have been described as the first global generation and the first generation that grew up in the Internet age.

The generation is generally marked by elevated usage of and familiarity with the Internet, mobile devices, and social media, which is why they are sometimes termed, digital natives.

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CSN Team. 

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