Brazilian Millennials - Savings Outlook
After an extensive search through private companies' databases, research publications, and Brazil's government treasury website, details about the expectations of Brazilian millennials around financial savings and the difficulties they are facing currently while saving for the future do not appear to be available in the public domain. However, the research team was able to gather valuable insights about the saving habits of Brazilian millennials.
- In Brazil, the upscale millennial population and general millennial population share similarities when it comes to saving for a home or higher education.
- In Brazil, both upscale millennials, and the general millennial population, are actively saving to buy a home.
- 65% of upscale millennials and 57% of the total millennials population are planning to save for a second home or vacation property.
- 64% of upscale millennials and 62% of total millennials are planning to save for their children's future.
- 63% of Brazilian millennials are planning to save for retirement while 63% of upscale Brazilian millennials are planning to save for their financial legacy.
- 36% of upscale millennials are actively saving for marriage while 26% of total millennials are actively saving for marriage in Brazil.
- 53% of upscale millennials are planning to save for retirement funds in the future.
- 42% of upscale millennials are planning to save for health issues.
- 46% of total millennials in Brazil are planning to save for health issues.
We commenced our research by first conducting a direct search looking for expectations and difficulties the Brazilian millennials are experiencing regarding future saving. We searched through several private companies' databases including Nielsen, Mckinsey, and IMF. From this research, we were able to gather insights and data points regarding savings of Brazilian millennials for home and other facilities, but those were not pertinent enough to conclude any expectation or difficulty that the millennials are currently facing when it comes to saving for the future.
We then looked for the financial situation of millennials in Brazil hoping to get any relevant insights and facts from where we could infer the expectations and current challenges Brazilian millennials are facing while saving for the future. Following the same approach, we looked for research publications, surveys and case studies ever conducted on Brazilian millennials. We searched through several research databases including Research Gate, Research Guides, Pew Research, and Deloitte. Unfortunately, the majority of the above sources either didn't focus on Brazilian millennials specifically or produced non-relevant information focused on how Brazilian millennials are losing faith in business and similar. Hence, this research didn't yield any positive results.
As none of the above strategies yielded any useful results, we then searched through the archives of Portuguese language publications within Brazil to look for interviews of millennials on financial planning. We were hoping to gather the most frequently occurring data-points regarding the expectations and difficulties to answer the client's request. Despite searching through several Portuguese publications, including Istoe Dinhenro and others, we were unable to gather any interview that specifically targets the financial aspect. Instead, we found interviews focused on how millennials invest which were not pertinent enough to answer the request.
As a last resort, we broadly searched through Brazil's government treasury website to see what reports they may have on the country's savings statistics hoping to get any related info on millennials. Unfortunately, the government didn't publicize any report on the country's savings statistics and produced non-relevant reports including information on savings bank and similar. Hence, none of the searches yielded any positive results.