Education is the “obvious outlet for the money Millennials can spend,” Perry Wong,
the director of research at the Milken Institute, told us, noting that if young
people invest less in physical things like houses, they’ll have more to invest
in themselves. “In the past, housing was the main vehicle for investment, but
education is also a vehicle.” In an ideas economy, up-to-date knowledge could
be a more nimble and valuable asset than a house.
I don't buy this at all. I think he may be right about Millenials investing in themselves, but I think he's wrong about it being money. Millenials are generally internet natives. They don't need to spend money on self improvement, just time, because so many educational resources are free and readily available on the internet and the quality of those resources is only improving with time.
