Markets may be volatile, but millennials’ investing goals are steadier than ever

By Truman Slate 4 years ago

The infographic shows millennials’ attitudes and behaviors around saving for retirement, investing, personal finance, and financial advice. We surveyed 885 millennials aged 24-39 who make at least $50,000 per year. Here’s what we learned: 6 in 10 millennials want to retire before age 65, and 63{d5f2c26e8a2617525656064194f8a7abd2a56a02c0e102ae4b29477986671105} define success in retirement as being able to do what they want. 39{d5f2c26e8a2617525656064194f8a7abd2a56a02c0e102ae4b29477986671105} want to start a new career, and 35{d5f2c26e8a2617525656064194f8a7abd2a56a02c0e102ae4b29477986671105} plan to start their own business in retirement. With COVID-19, millennials report feeling cautious (46{d5f2c26e8a2617525656064194f8a7abd2a56a02c0e102ae4b29477986671105}), fearful (28{d5f2c26e8a2617525656064194f8a7abd2a56a02c0e102ae4b29477986671105}), and skeptical (27{d5f2c26e8a2617525656064194f8a7abd2a56a02c0e102ae4b29477986671105}) about investing. Nevertheless, 74{d5f2c26e8a2617525656064194f8a7abd2a56a02c0e102ae4b29477986671105} are interested in learning more about investing. Despite their concern about jobs and the economy, only 1 in 10 millennials have delayed or canceled contributing to their retirement account because of COVID-19. 46{d5f2c26e8a2617525656064194f8a7abd2a56a02c0e102ae4b29477986671105} said that COVID-19 has increased their interest in financial advice—more than any other generation. 51{d5f2c26e8a2617525656064194f8a7abd2a56a02c0e102ae4b29477986671105} are more likely to consider using a robo-advisor, compared to 36{d5f2c26e8a2617525656064194f8a7abd2a56a02c0e102ae4b29477986671105} of Gen-Xers and 24{d5f2c26e8a2617525656064194f8a7abd2a56a02c0e102ae4b29477986671105} of young boomers.

If you’re all set to get that step into the upcoming and use an on the web instrument to assist system your retirement, Vanguard Electronic Advisor™ is in this article. As millennials would say, that is some subsequent-stage adulting.

Notes:
Supply: Vanguard analyze, 2020
All investing is topic to chance, like the attainable decline of the revenue you commit.

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