Only 1 in 3 Millennials are Investing in the Stock Market – The Southern Maryland Chronicle

Posted: April 19, 2020 at 2:50 pm


without comments

Generation X Most Comfortable with Stocks News Release, Bankrate.com

NEW YORK Millennials continue to lag behind their elders when it comes to investing in the stock market, according to a new Bankrate.com (NYSE: RATE) report. Just 33% of millennials say that they own stock, compared to 51% of Gen Xers (ages 36-51) and 48% of Baby Boomers (ages 52-70). Whats interesting is that older millennials are leading the charge when it comes to investing; 44% of those ages 26-35 say they invest, compared to only 18% of those ages 18-25.

Older millennials seem to be getting the message that the stock market allows for major financial gains if you start early, said Jill Cornfield, Bankrate.coms retirement analyst. Although theres always some risk involved, building a portfolio at an early age allows for compound interest to grow and produce ample savings over time, Cornfield added.

Overall, the general population is still shying away from investing in the stock market. More than half of the respondents (54%) say they do not invest. The top reason cited for staying out of the stock market is not having enough money (48%), followed by not knowing enough about stocks to invest (25%). Other deterrents include, stocks are too risky (11%), not trusting stock brokers or advisors (7%) and fear of high fees(1%).

Income and education are clear indicators when it comes to stock market participation. 73% of individuals with an income of $75K or more invest in the market compared to only 9% of people who earn under $30K per year. Similarly, those who have college education say they invest in the market more than people with a high school education or less, 61% vs. 29%, respectively.

Princeton Survey Research Associates International obtained telephone interviews with a nationally representative sample of 1,000 adults living in the continental United States.

Interviews were conducted by landline (500) and cell phone (500, including 255 without a landline phone) in English and Spanish by Princeton Data Source. Statistical results are weighted to correct known demographic discrepancies. The margin of sampling error for the complete set of weighted data is plus or minus 4.0 percentage points.

The Southern Maryland Chronicle is a local, small business entrusted to provide factual, unbiased reporting to the Southern Maryland Community.While we look to local businesses for advertising, we hope to keep that cost as low as possible in order to attract even the smallest of local businesses and help them get out to the public. We must also be able to pay employees(part-time and full-time), along with equipment, and website related things. We never want to make the Chronicle a pay-wall style news site.

To that end, we are looking to the community to offer donations. Whether its a one-time donation or you set up a reoccurring monthly donation. It is all appreciated. All donations at this time will be going to furthering the Chronicle through hiring individuals that have the same goals of providing fair, and unbiased news to the community. For now, donations will be going to a business PayPal account I have set-up for the Southern Maryland Chronicle, KDC Designs. All business transactions currently occur within this PayPal account. If you have any questions regarding this you can email me at [emailprotected]

Thank you for all of your support and I hope to continue bringing Southern Maryland the best news possible for a very long time. David M. Higgins II

See the original post:
Only 1 in 3 Millennials are Investing in the Stock Market - The Southern Maryland Chronicle

Related Post

Written by admin |

April 19th, 2020 at 2:50 pm

Posted in Investment