The generation of individuals born in the 1980s and 1990s is referred to as the millennials. Millennials tend to be more attracted to uncomplicated investment opportunities. They like having the autonomy to make their financial decisions, after thoroughly studying the information available.
Millennials are accustomed to digitalization and the ability to sit at home and make payments, investments, and savings. They like having information available at hand about the stock exchange, world economy, foreign exchange, etc.so that they can make an informed choice. Statistically, 67% of millennials trust the judgment of a computer to get essential information about their investment. They think differently from the last generation and are different styles of investment. Some things that you must know about millennials and their investment patterns are:
A survey by Investopedia suggests that Millenials are not very concerned about saving money for their retirement. However, they do not like the idea of working post-retirement and are aware that they need to have some amount saved for their later days. They idealize the idea of investing money during their youth instead of saving it. Moreover, most of them have a debt to pay, whether due to a loan taken for their education or to arrange business capital.
40% of millennials are not pro investing in the stock exchange as they believe that such investments can be overwhelming. They are aversed o the idea of excessive risk and prefer to stick to more secure investments.
The salary of millennials is higher than those received by the previous generation. However, millennials tend to spend a good part of their salary on comfortable living. Providing millennials with an investment plan that is regular, instead of one time, can be a good idea to appeal to them and keep them engaged.
Millennials prefer to make investment decisions with regard to their personal values. They are not blindsided by the features offered by traditional financial institutions and are open to the new way of investing. They are also more inclined towards sustainable investments. It matters to them that they are socially responsible in their investments.
Millennials do not trust financial advisors and are constantly moving towards online investment mediums. They tend to trust their own judgment and knowledge of the market to make decisions, which is why it is important that the investment platform they use discloses all the information.
Digital investment platforms, like Husty, are lowering the entry bar for millennials to increase the investments that they make. They are providing low-risk investment opportunities to the millennials, while also catering to their personal values. At these digital platforms, relevant information about their investment is easily accessible. Moreover, they are able to diversify their investments and avoid incurring higher losses.
Husty is an online platform for people to invest in their peers. The investment amounts are kept low and the income generated is consistent, making it a suitable investment platform for millennials. We provide innovative solutions that ensure quick and secure returns on investment. To learn more about our services, click here.
