4 Things You Didn’t Know About How Millennials Invest

Lazy. Entitled. Narcissistic. Spendthrifts. Digitally obsessed. Google the term “Millennial” (ages 21-36), and these are some of the words you will find to describe a whole generation.

It’s all wrong.

Our research into how 1,000 Millennials invest paints a portrait of investors who, far from being entitled or undisciplined, are extremely conservative. In fact, they’re more savers than investors.

Here are four things you should know.

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1. The World War II generation lived through the Great Depression. The Millennials came of age during the Great Recession. So it’s no wonder their risk profiles are extremely similar.

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2. Millennials hold more than half of their assets in cash (52%) and less than one-third (28%) in equities. This is super-conservative, so much that it’s directly counter to traditional long-term investment allocation advice.

Average cash allocation is high (42%) even among older Millennials (ages 30-36) who have at least $100,000 in assets. So it’s not just about cash needs; it also reflects wariness about financial markets.

 

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3. Forget beating the market. Millennials have humble investment goals.

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4. If you give a Millennial some cash, it’s not necessarily going into the stock market.

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