Millennials are avoiding stocks

The financial crisis – and subsequent Great Recession – have taken a heavy toll on the Millennial generation. Many of them carried a heavy burden of student debt through years of sluggish job growth, anemic wage growth and ever-delayed plans for such basic adult pleasures as moving out of mom’s house. Given all that, many Millennials remain suspicious – even contemptuous of – Wall Street.

From a recent report from Bankrate.com, only 1 in 3 Millennials are investing in the stock market. Bankrate reports that just 33 percent of Millennials polled say that they own stock. This compares to 51 percent of Gen Xers (ages 36-51) and 48 percent of Baby Boomers (ages 52-70).

Still, a general trend away from stock investing could hurt the long-term financial prospects of this huge generation. Wall Street has managed to produce some very impressive gains over the past three decades. Investing early can potentially shoulder the risks of stock investing while still young enough to recover from occasional losses.

The stock market’s recent events may continue to influence many young adults shying away from this investment.

If you’re interested in investment options, schedule a free appointment with a Travis Financial Services financial consultant at any of our full-service branches. For more information, visit www.traviscu.org/investments for details.

Please note: Travis does not offer financial advice. Please visit a certified financial planner for official financial advice.

Travis Financial Services