Millennials may make up one of the most underemployed segments of the American population, but they don't let their pitiful bank accounts keep them from buying nice things for themselves. Although they still only make up 3 percent of the luxury market, millennials' luxury spending increased 33 percent in 2011, outpacing baby boomers by 14 percent. So, where are millennials getting all this money to fritter away on necklaces and iPhones? From their parents, most likely, or by skimping on other things like rent, food, and long-term savings plans. So, they may never be able to retire, but at least they'll own lots of nice things that they can tweet about and post pictures of on Facebook.
Male Gaze: The Naked Warwick Rowers Are Baaack
See: A Harper’s Cover Shot by Erik Madigan Heck
Rashida Jones Was a Whore Between 2007 and 2011
- The Cut’s Advent Calendar: 18 Days to Go!
- The Best of the Cut This Week
- Male Gaze: The Naked Warwick Rowers Are Baaack
- The 11 Best Pre-Fall 2014 Looks (So Far)
- See: A Harper’s Cover Shot by Erik Madigan Heck
- Rashida Jones Was a Whore Between 2007 and 2011
- Decoding the Campy, Disheveled Girls Poster
- Burn After Reading: 2013 Holiday Candle Guide
- Time Editor Is a One-Woman Paycheck Fairness Act
- Facebook Could Add a ‘Sympathize’ Button
- The Cut’s Advent Calendar: 19 Days to Go!
- Decoding Drew’s Nails to Learn About Her Womb
- Messy-Haired Sky Ferreira: New Face of Redken
- Karolina Kurkova, Steven Tyler, & More at Basel
- Newly Vegan Beyoncé Covers Her Body in Pizza