Facebook as the Ultimate Research Tool

Facebook knows a lot about us. Considering that we share so much of our Likes and lives on the social network, that should come as a surprise to precisely no one.

But after a decade of accumulating such a vast amount of data on us, Facebook could become the best repository of our views on just about…anything.

Millennials and their Financial Preferences

The Facebook data trove—and insights derived from it—came to life recently via a blog post on Facebook IQ. In addition to the data and conversation analysis, Facebook also conducted a survey of 27,000 Millennials in the U.S.—ages 21 to 34—to find out their thoughts on money, banking and financial success. Facebook wrote a white paper on the findings and produced a snapshot of the insights in infographic form, which you can find below.

What Do the Numbers Tell Us?

Like people from other generations, Millennials want to achieve financial success. Predictably, that goal has a variety of interpretations: 46 percent said that “being debt free” is the definition of financial success. Another 21 percent said “owning a home” was their financial success yardstick; 16 percent responded that “buying experiences” was their goal.

What about being able to retire? That answer came in at just 13 percent. (Retirement might as well be in another lifetime for someone 25 years old, right?)

To check out the Facebook research findings and see how closely they might match your financial goals and experiences, click here. And let us know in the comments section how you define financial success.