has calculated for me. If you waited until 37 to start this routine, at 65 you'd have just $180,000. And among millennials who have been saving in a 401 plan with the same employer for a decade straight, the average balance is closer to $150,000, the Fidelity spokesman told me.In other words: Not being able to invest as much as you'd like to can't prevent you from investing what you can. Now.
If you're a millennial with a healthy investment account balance, the standard advice applies: Despite the recent large drops in the market, stocks have historically bounced back and prove fairly fruitful over the long-haul. A $50,000 investment in U.S. stocks in 1950 grew to more than $87 million by this year, according to data provided by Morningstar. And even stock-heavy portfolios took under four years to fully recover from the devastating 2007-2008 financial crisis.
"The biggest mistake one can make in this financial environment is attempting to react to or predict the market," said Lannan at Fidelity. Her advice: "Invest consistently and stick to a plan, even during the bad times."
Because puts
Who cares if millennials care?
Uh, low net worth maybe?
Because this is an opportunity for younger people to take advantage of these cheap stocks. I mean I still have 20 years before retirement.
I'm barely a Gen Z, but I care still.
Ha, I care! Everything's on sale, now we can invest even more.
Because we’ve been buying Bitcoin since it was under $1,000.
Millennials only care about themselves. Stock market? What is that? Virus oh nothing. These are the future Americans..pity
I’m buying more as the market tanks. Buy when others are fearful. Technology/software/semiconductor stocks are where you want to be for the long haul.
Instead of focusing on what millennials can’t do, wish we would focus on what they can do ... a window of opportunity is here
Millennials don't care about anything or anyone. They just like drama.🤐
Thoughts and prayers... Why should we care about money that’s kept from us? You can’t take it with you when the coronavirus comes knocking your door.
They will care when their parents run out of money and can’t help them anymore.
DidNotLearnCompoundInterest
Idc because of bitcoin .... I been preparing myself for the extinction of fiat currency since 2015
These seems to run counter to an article from a couple months ago that said millennials have accumulated more wealth at this stage in their life than previous generations. So which is it.
Knock it off. Millennials has been used so many times now it no longer means anything. Something bad is happening - must be millennials. Get off the gas. Stocks are tanking because synthetic returns were bound to over correct.
They are not invested in it, and frankly the money we lost last week...may not come back.
Because they don’t know what a stock market is and wanted Bernie Sanders elected?
Evan_Kilometers Sounds like our generation will have a difficult time retiring. Some scary numbers.
Millennials:
I and the millennials I work with absolutely care. We know we have time to make up for it but everything from 401Ks, to brokerage accounts, to 529s have been rocked.
Zoomers
No do what out of control deflation will do their patents so that there is no longer a basement for them to live in. These shutdowns will ruin us.