Connect with us

Hi, what are you looking for?

College

What’s Up With Millennial Investing?

saving money
saving money

It’s no secret that millennials aren’t the best when it comes to saving money and investing. According to Andrew Fiebert, one half of the personal finance duo behind successful podcast Listen Money Matters, millennials are very “risk averse,” meaning they are less likely to take any chances when it comes to money. Given the financial crisis and Great Recession of 2008, this doesn’t come as much of a surprise.

But, that doesn’t mean we shouldn’t get involved. Per the advice of Research Fellow at the American Institute for Economic Research Luke Delorme, “if you want to make $1 million dollars in retirement, the most important thing is not asset allocation. It is taking money and putting it into savings. Inertia is a powerful force. The sooner you start saving, the better. Actually saving is the most important thing.”

To jump start saving and investing habits, author Alexandra Talty suggests building a “rainy day fund” in case of sudden unemployment, analyzing and outlining your investment goals and look to investing with passive index funds or mutual funds to start out.

Read up on the evolving discussion surrounding millennial savings habits over at Forbes.

Savings

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

economy

In the early 2000s, I remember watching a game show, and the grand prize was a million dollars. I thought to myself, “Wow, that’s...

economy

When starting college and choosing a major, it’s important to know which college degrees will make you the most money. Since last year’s quarantine,...

2016 president election

In a political climate dominated by a two-party system, Libertarians are constantly confused as off-brand Republicans. Although the two groups sometimes align on issues,...

Business

What is the gap between culture and technology? According to Damas, entertainers have passions that brands and companies may not be aware of, and...

Copyright © 2020-2021 GenBiz. GenBiz is owned and operated by owned by the Foundation for American Content and Entertainment, a 501(c)(3) non-profit organization.