How will millennials invest their money

They are too busy battling with debt. But gaining independence should be income-driven rather than frugality-fueled. Millennials would also be wise to explore the use of a Roth IRA to gain tax-free growth on investments. Many millennials may recall the major stock market decline in and the financial crisis in and Mint : Mint works by compiling all of a user’s financial accounts into a single web-based platform, where they can be analyzed and monitored. Research has shown the Millennial generation to be the most ethnically and racially diverse in U. The survey asked 1, respondents to share how they view investing, who taught them, and how that education influences where they spend, save, and invest.

‘Only a small percentage identify as investors’

Affluence rather than age explains the differences in investing habits among young, urban Indians, shows the YouGov-Mint Millennial Survey. Mumbai: A large proportion of millennials entered the job market at a time when financial markets were extremely volatile. Not surprisingly, many studies across the globe find that the generation has grown wary of stock markets. In India, too, millennials appear to be wary of the stock markets, data from a recent survey conducted jointly by the Indian arm of global market survey firm YouGov and Mint shows. Yet, a closer examination of data suggests it is affluence rather than age that explains the differences in investment millennials among different age-groups or cohorts. The YouGov-Mint Millennial Survey conducted in July this year shows that one-third of working millennials put their money only in risk-free instrumentssuch as fixed and recurring deposits, without investing anything in equities.

Affluent millennials are economically optimistic, but afraid to invest

Millennial is the name given to the generation born between and , dates now clarified by the Pew Research Center , although some have seen them as starting in and being born as late as Millennials are so named because they were born near, or came of age during, the dawn of the 21st century — the new millennium. As the first to be born into a digital world, members of this group are considered «digital natives. Research has shown the Millennial generation to be the most ethnically and racially diverse in U. Gen Y tends to be progressive in their political views and voting habits and less religiously observant than their predecessors, Gen X.

Why millennials are prioritizing short-term spending over long-term saving

Retirement Savings Accounts. Becoming Financially Independent. While his values force him to be mindful of how he spends his money, he focuses his discretionary how will millennials invest their money on taking at least one vacation each year and pursuing different activities and experiences as often as he. Meanwhile, baby boomers and Gen X-ers take part at a clip of more than 50 percent. The offers that appear in this table are from partnerships from which Investopedia receives compensation. In your 20s, you’re at the time when compound interest is most in your favor because you have decades for even small amounts of money to grow.