Busted: 5 myths about millennials and investing

by Broadridge

Busted: 5 myths about millennials and investing

Millennials are making some surprising and unconventional decisions about retirement, investing and financial advice. A new national survey from Broadridge and The Center for Generational Kinetics (CGK) explodes the myths and exposes the realities of America’s next-gen investors


Millennials lag baby boomers in workplace retirement plan participation

FACT: For every three baby boomers, four millennials participate in workplace savings


As the “most-educated generation,”1 millennials must understand the basics of investing

FACT: Their views of risk and reward are unconventional – and potentially harmful to long-term portfolio growth


Preferring the insights of friends and family, millennials don’t value professional expertise

FACT: When asked specifically about advisors, 54% said they value investment experience above all other advisor attributes


Typical of younger generations throughout time, millennials focus on “living for today”

FACT: 40% percent said that a recommendation from an advisor would inspire them to invest and save more – compared to only 34% and 33% of Gen X and boomers respectively


Tech-dependent millennials avoid in-person business discussions

FACT: From personal meetings to digital updates, millennials favor regular – and frequent – advisor communications

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