Millennials And Investing: A Study And Six Tips

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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.

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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.

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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.

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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.

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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.

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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.

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

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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.

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

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