In the years since the financial crisis, stocks have rebounded strongly, returning over 200% value to investors.
Despite this strong news, millennials are skeptical of diving in.
According to a survey done by Goldman Sachs, almost 40% of young people do not want to invest in the stock market at all. Another 45% say they are skeptical and would play it safe by investin small amounts or by trading low risk strategies.
It seems logical that millennials, usually defined as those age 18-30, would be cautious regarding the market. During their lifetimes there have been two major recessions, the dot-com bubble burst and the housing market crash.
Among those who said they wouldn’t invest, around 20% said they wouldn’t invest because they did not know enough about the market.
Goldman’s survey also asked how much time millennials would spend gathering financial advice if they were to invest in the market. 56% of those surveyed said the would spend an hour or less gathering information if they were going to make an investment. A little over a quarter said they would spend as much time as they needed to get the best advice.
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I’m definitely weary of investing in stocks. No one is my day-to-day life has ever talked me about buying stocks. I have only heard people talk about through blog posts. I think this is my main cause for concern. Strangers on the internet telling me to do something, does not make me jump up and want to do it. However, I have read multiple articles that have convinced me to start researching it. It seems complicated to me though. Which again, makes me weary. Thanks for posting!