It’s no secret that Millennials’ spending habits are different than those of previous and even future generations. But what about their investing habits?
Millennials no doubt have new kinds of restrictions on how much they can invest since so many of them are saddled with record-breaking student debt. Still, they have a solid 30 years of investing ahead. Should they take a risk and invest now?
Jason Dorsey shares his perspective and latest research on Millennials and investing:
- This is a great time for Millennials to get into the market, if they’re not already.
- Out of all the generations, Millennials are the least prepared and least knowledgeable when it comes to retirement, even though 48% of Millennials actually do have a 401(k).
- Interestingly, Millennials are the most conservative generation when it comes to investing, even though they have the most money and can afford to take on bigger risks.
- Even though Millennials have real spending power, the thought of putting their money into an entity beyond their control is scary since they grew up in an uncertain economy.
- Millennials are holding off on getting married, so it’s less likely that they live in a secure dual-income household.
- Human conversation and interaction is crucial for Millennials to invest. They want someone to sit them down and explain everything to them, and won’t trust “robo-advisors” to help them navigate the stock market.
For more fascinating statistics about Millennials and investing, watch the complete video here: https://www.youtube.com/watch?v=iBY8UwvL4mI
Whether you’re a Millennial investor or a financial manager that is working with Millennials, what has been your most recent experience with investing and the stock market? Tweet us with your answer @WhatTheGen and @JasonDorsey
