Why millennials are experiencing 'phantom wealth'

The Millennial age group's net worth has quadrupled in just the past five years. This means the generation is financially better off in the U.S. than any previous groups when they were the same age.

However, many report not feeling all that financially secure or wealthy.

For more on this phenomenon — called 'phantom wealth' — and why millennials might still be feeling financially vulnerable, host Scott Tong speaks to CNBC personal finance writer Jessica Dickler.