Numerous studies reported that millennials and Gen Z are considerably poor and prediction says they will be having a hard time in the future. However, what can they do about it? If their predecessors were able to save themselves by investing, will investment also save millennials and Gen Z?
The answer to the foregoing is yes. Investment is believably to be one of the most efficacious ways to financially save millennials and Gen Z in their future. That said, the investment appears to be foreign to them.
Investopedia published a survey pertaining to affluent millennials and Gen Z and investing. The reason might be shocking for more than 40% of respondents feel that investing is risky, and roughly 25% of them believe that it is overwhelming.
The reasons vary. Among them, millennials think that they are not knowledgeable enough. Only 37% know and understand what and how to invest.
Considering the massive percentage of millennials who appears to have no interest in investment, their future life might turn worse for them. Even for the affluent millennials, they still believe that they have to work beyond retirement age to be financially independent.
For those reasons, millennials better to start considering investing. However, what investment should they make and how to do so?
Also Read: Dear Millennials, Have You Invested Your Money?
What Investment Millennials and Gen Z Should Make
Speaking of investment, there exist myriad options available on the market. Starting from stocks, Forex, up to precious metal such as gold, millennials might choose whatever investment that suits them.
Despite the available options, studies found that what hinders millennials is majorly their lack of confidence. Accordingly, the absence of confidence prevents millennials from making a wise financial decision, let alone investing.
Whereas, little do they know that there also exist other opportunities to make an investment. Janine Meg Tamayo, a certified Philippine public accountant, says that investing in this era is easier than ever. In an interview with Cosmopolitan, Tamayo gives several investing suggestions for millennials.
According to her, people should invest in things that make value. Moreover, what she means by value is that it should transcend the boundary of materialistic purposes, meaning that it should serve other purposes.
At the end of the day, Tamayo suggests that investors should make money work for people, not the other way around.
Also Read: Millennial Want to Start Investing? Here’s the Steps
