Millennials are just one step away from inheriting their preceding generations’ role in controlling the economy, including investment. Accordingly, many older generations question how do millennials change the investment game?
To offer the most appropriate response to the question, it is best to examine what millennials think. Their way of thinking, in addition, adds up to their possible preferences in investing at some point in the future.
Regarding millennials’ way of thinking and, correspondingly, their behaviors, they have been receiving blames for the way they do. The reason being is that millennials execute things in a dissimilar manner from their predecessors.
Speaking of dissimilar manners, difference always happens between one generation from its successor. That, additionally, applies for millennials as well.
Considering the discussion, here are how millennials think and, subsequently, how they change the way to invest.
Also Read: Dear Millennials, Have You Invested Your Money?
Millennials and Their Attitudes toward Current Investment Options
The old and everlasting investment options, stocks and forex, do not captivate millennials’ interest that much. They are still interested in investing in the commodities, but they are more cautious by now.
However, studies still find that millennials will promisingly invest more in stocks than their baby boomer parents. That being said, their current economic condition will greatly affect their decision-making process in investment.
Millennials Have Their Own Way in Investing
Arguably, millennials are identical to the stereotype of industry-killers and job-hoppers. Additionally, this is what boomers hate the most about millennials.
However, millennials have their own way. They want to find the best workplace that suit their life balance, thus moving from one job to another is the way to find one.
Besides, millennials are more start-up minded, making them having a stronger urge to establish their own business than dedicating their lives to an existing one.
Millennials’ Interest in Investment
Unlike the spreading rumors that millennials hate investing, they actually like it. However, millennials have their own preferences in conducting an investment.
Besides making money, millennials want to serve a higher purpose than themselves. Ergo, they edge to administer their wealth to invest in something that impacts society, environment, and helps make the world a better place.
In addition, millennials have little trusts in financial advisers. Study reported that 57% millennials do not believe in the service. The reason is that they argue that advisers are caring more about themselves than their clients, thus contradicting millennials’ value which greatly respect well-established mutual relationships.
Also Read: Millennial Want to Start Investing? Here’s the Steps
