We all live in a fast-paced world and it’s impossible to give our full attention to every tidbit of information that passes across our radars. It’s just how the modern world works. That’s why it’s likely that the millennials criticizing the Bank of America report didn’t read the full report or aren’t focusing on the context.

Because having 100,000 dollars in savings was just a tiny part of the report. What’s more, the figure was right next to this down-to-earth fact: that 47 percent of American millennials have 15,000 dollars or more in savings. Now that sounds much more realistic, doesn’t it?

Moving beyond the Bank of America’s findings, the reality is that a large number of millennials talk about saving money, but few of them have enough financial knowledge to make smart decisions. This is backed by PwC US’ study that found that less than a quarter of recent college graduates have basic financial knowledge. Nearly a third overdraw their checking accounts, while a mere 27 percent seek professional advice on how to save and invest their hard-earned money.