The Millennials are the first “work and live generation.“ For the past 10,000 years the pattern was ”work and die.” The millennials have watched their great grandparents, grandparents and parents live longer. Watching people live longer has afforded them the luxury of delay. Let’s take 10 years and hangout… because we can.
Millennials don’t invest because of the ceiling of complexity. This group knows about the market but have no idea how to invest. They think they need tons of cash and are afraid of making a mistake or looking stupid. The lack of confidence creates delay. So, they spend their cash thinking they’ll save later. Millennials have been taught how to spend, but not how to save.
Millennials, here’s a tip: Save just a dollar a day. With the power of compound interest, say in the form a of ROTH IRA, that dollar a day will surprise you with growth.