Do you know that millennial generations have an unique investment habit?
People born in the early 80s and late 90s have unique characters. They usually called millennials generations. This generation represents a group of people who have a significant influence on the economy. Furthermore, the millennials also have very unique investment habits.
Here are some millennial investment habits that you need to know.
No Saving for Retirement
The millennial generation’s investment habits are really different. They think that setting aside cash for retirement is not the most important thing.
It happens since most millennial generations are too busy to struggle with debt.
The Annual Transamerica Retirement survey reveals that at least 45 percent of the millennial generation marks retirement savings as a financial priority.
While 67 percent of millennials said paying off debt was a top priority.
Social Responsibility Investment
Millennials investment habits do not have to be related to money. They also have a high interest in social responsibility investment. They need good social and environmental accounts to benefit.
Furthermore, the millennial generation prefers to invest in companies that target social or environmental goals.
The habit of investing in the next millennial generation is that they like to avoid complexity. Millennials are a big supporter of the drive towards index fund mutual funds that have a low cost ratio.
In addition, the millennials generation like the simple investment which are only designed to track the movements of individual indices or the stock market as a whole.
Writer: Fenda Agustina