NEW YORK, Oct. 2, 2019 /PRNewswire/ — Today, Investopedia (www.investopedia.com), one of the world’s largest financial and investing websites, announced findings from a recent survey, which found that nearly half of affluent millennials say they think they will be forced to work beyond retirement age. While millennials see investing as the primary vehicle for saving for the future, they also find it overwhelming and intimidating. However, those who learn about investing at an early age are more likely to feel confident about their own financial decisions.
Investopedia partnered with Chirp Research to conduct a nationwide survey of affluent millennials (a population with the means to invest, with an average HHI of $132,000) to understand their investment goals, retirement plans, and the barriers to investing.
“This is the first generation that entered their professional lives in the wake of the 2008 financial crisis,” said Caleb Silver, Investopedia Editor in Chief. “Despite financial technology becoming readily accessible to them, many still feel that they lack enough financial and investing knowledge to get started.”
Other key findings from the study:
Affluent millennials see investing as overwhelming and intimidating
Financial education is the core factor driving investment behavior
Financial Advisors (FA’s) Are a Trusted Source of Education
“The survey paints a picture of a generation that is trying to tackle planning for the long term while perceiving investing as risky, all despite having the funds to invest. Critically, the single factor in this study that best predicted being invested–and achieving better results–was financial education. This represents a huge opportunity to better support millennial consumers in their financial journey,” said Dr. Joetta Gobell, Vice President of Research and Insights at Dotdash, Investopedia’s parent company.
To learn more about the study, please visit here.
About Investopedia
Investopedia helps more than 11 million monthly U.S. users (comScore Media Metrix August, 2019) learn how to understand complex financial concepts, improve their investing skills, and learn how to manage their money. Whether in a classroom, a boardroom or a living room, Investopedia editors and its network of financial advisors and experts have answered questions and earned readers’ trust since 1999. Investopedia is part of the Dotdash family of brands.
SOURCE Investopedia
WASHINGTON – Secretary of the Treasury Janet L. Yellen today released the following statement at…
WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC)…
Washington– Today President Biden issued an order prohibiting the purchase and requiring the divestment of certain…
As Prepared for DeliveryThank you for joining me here today. President Biden’s American Rescue Plan was…
Program created by President Biden’s Inflation Reduction Act provides up to 20-percentage point credit boost…
WASHINGTON — Acting Comptroller of the Currency Michael J. Hsu today issued the following statement…