Millennials And Investing: A Study And Six Tips

They have growing assets ripe for wealth accumulation, stock market participation, and retirement planning to secure a promising financial future. Our post reviews Millennials and investing.

The study debunked seven myths about millennials and investing and provided constructive implications for millennials and those financial businesses that court them with financial products.

7 Tips for  Millennials: 1. Save. Adopt a savings habit by cutting out unnecessary costs. See our post on 25 Ways to Save Money And Feel Good About It.

2. Set up an emergency fund. You need to set up an emergency fund for liquidity by saving money in a readily accessible liquid account.

3. Get rid of high-interest-cost debt. If you have outstanding credit card balances, pay this debt first because of its high-interest cost.

4. Use your workplace retirement plan. If you have access to an employer-sponsored 401 K retirement program and your employer provides a “matching contribution,” make sure to take advantage of that.

5. Set up your Roth IRA. In addition to an employer-sponsored retirement plan, set up your own IRA/ Roth IRA accounts.

6. Invest, invest, invest. There are a lot of good choices to consider, whether you prefer staying in the US market or diversifying to potentially faster growth in global markets.

7. Women Millennials, in particular, need more confidence in investment decision-making.

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