October 8, 2024

Paull Ank Ford

Business Think different

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

Tenisha M. Slaton August 30, 2020

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% define success in retirement as being able to do what they want. 39% want to start a new career, and 35% plan to start their own business in retirement. With COVID-19, millennials report feeling cautious (46%), fearful (28%), and skeptical (27%) about investing. Nevertheless, 74% 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% said that COVID-19 has increased their interest in financial advice—more than any other generation. 51% are more likely to consider using a robo-advisor, compared to 36% of Gen-Xers and 24% of young boomers.

If you’re prepared to acquire that stage into the upcoming and use an on the web tool to enable approach your retirement, Vanguard Digital Advisor™ is listed here. As millennials would say, that’s some future-stage adulting.

Notes:
Source: Vanguard research, 2020
All investing is subject to chance, which include the doable decline of the money you make investments.

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