Today’s Millennials have a negative outlook on investing into the stock market. In 2009 Stefan Nagel did a study on the willingness of financial risks for “Depressions-era babies.” He found out that if they were to make an investment that it would be a lower fraction.
In fact he says according to a survey by Bankrate, “30% of Millennials say cash is their long-term investment of choice, while previous generations lean toward stocks.” As far as careers go a lot of millenials have been forced to take more risks professionally since they graduated during the recession. Unlike the previous generations, they are switching jobs less frequently as well. Gray Kimbrough tweeted this:
Millennials that have a financial crisis are switching their careers. A recent study by Kate Wauck says that 77% of millennials believe that they are in the right career that will lead them to long term success. The bottom line is that millennials would rather have cash than invest into stocks. A lot of millennials fear that another recessions is coming in the future years so they hold onto their job with no means of switching anytime soon.