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

By Tara R. Hernandez 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% 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 all set to just take that move into the long run and use an on-line resource to help system your retirement, Vanguard Electronic Advisor™ is listed here. As millennials would say, that is some next-level adulting.

Notes:
Supply: Vanguard analyze, 2020
All investing is subject matter to risk, including the feasible decline of the revenue you devote.

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