ABN AMRO : A million in the bank? For young people, it’s a ticket to travel the world

What would you do if you came into a million? Many of us will have secretly wondered about this at some point. A big majority (55%) of the Netherlands' young people between 18 and 29 would use it (among other things) to travel around the world, a survey by ABN AMRO MeesPierson finds. One-third even list a world trip as the most important thing they'd do with a million euros. Many of these young putative millionaires would also buy a large house (49%) or an expensive car (20%).

Young people wouldn't just spend such a windfall million, or only think of themselves. Over half of respondents said they'd save all or some of it for later. Nearly one-third would share their million euros with family and friends, giving away at least part of it. Thirteen per cent would be looking to invest some of it. Charitable giving doesn't rank very highly, though: when asked to list their three main spending priorities if they came into a million euros, only 12% of young people mention donating to a charity or a worthy cause.

Better world

Though it's not one of their key spending priorities, young people would still put an average 186,200 euros out of their million towards helping to create a better world. There are many ways they could do so, including charitable giving and investing sustainably.

[Figure: Would you put - a proportion of - the money to doing good in the world?
Yes, by donating to charity; Yes, by investing sustainably; Yes, by investing in a sustainable company.]

Many young people want the world to be a better place for all, and our survey finds that nearly three out of four want to act to help achieve that, whether financially or in other ways. The key themes they favour are improving health and wellbeing (36%), and combating climate change (31%). They also reckon sustainable companies should primarily focus on these themes.

No million, but still contributing to a better world

Most young people currently don't have a million euros sitting in their bank accounts. Still, many of them try to contribute to a better world on a rather smaller scale: the majority separate their rubbish (78%), buy organic products (75%), regularly turn down the heating (80%) or consciously use less water (61%). Eating less meat and choosing public transport over their cars is reported by just under half of our young respondents. All in all, they rate themselves at an average 6.24 in terms of sustainability.