Finance & Motivation:

Millennials and stocks — a mutual need

Millennials, the children of the stock-loving Baby Boomers who helped fuel the best-ever bull market in the 1990s, haven’t yet developed a good working relationship with the market like mom and dad did.

Now mostly in their 20s and early 30s, the people making up the nation’s largest generation have yet to embrace the concept of stock investing to meet long-term goals, like funding retirement, surveys show. Only one in three 

Millennials say they invest in stocks, a Bankrate.com survey has found. Six in ten say they have less than $10,000 saved for their post-working years, according to Ramsey Solutions’ 2016 Retirement in America Survey.

The top reasons for avoiding individual stocks like Apple, or equity funds like Vanguard’s Growth and Income Fund? Nearly half of Millennials say investing is “too risky,” a BlackRock study says. And four of ten say they don’t have enough spare income to squirrel away for the future, according to a just-released survey from Stash, a financial app.

The fear of risk is understandable. Millennials experienced and were scarred by the 2008 market collapse sparked by the financial crisis. Before that, older Millennials remember the bursting of the internet stock bubble in 2000.

But there is a hint of change. A look at Millennials who have already made the jump from saver to investor suggests that they may embrace stocks one day.

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