There’s a growing consensus these days that millennials are behind their Gen X and Boomer counterparts when it comes to investing trends. But is it true? Depending on which study you read, the answer is yes … and no.
While some millennials appear to be saving early and often, with their eyes on a seven-figure prize, others say they struggle on the daily just to pay the bills. But even for millennials who have money to bank, a hesitation to invest in stocks has left them a little behind the curve.
We can’t really blame them for being wary. The oldest millennials were in their late 20s and just starting their careers when the market crashed and burned in 2008. And if they had invested in the stock market up to that point, watching their portfolios disappear while corporations received billion-dollar government bailouts certainly gave them a reason to distrust Wall Street.Read more