"To me it just doesn't seem logical, that you could save all that money and then potentially lose it all down the road." - Diane Casaretti, 26-year-old marketing rep
The Generation Yers - now in their twenties and ...(more)
And that's exactly why professional advisors exist! To enlighten this generation that there is no serial correlation in the capital markets, that booms always follow busts and that our biological tendency to overemphasize the recent past , assuming what happened in the last major block of time will happen in the next, is flawed.
While I agree that the generation Y'ers have experienced some of the most trying times with the market, I think there is something else potentially going on here. Generation Y'ers are one of the most exposed generations with information due to their technology addiction. I believe it is this glut of information they have, that makes them look for investment opportunities outside of the normal channels. From tech startups to oil companies, these generation Y'ers seem to grab onto single or dual concepts and devote their time, energy and even money to these endevours. While this doesn't describe all the generation Y'ers, I believe it describes the savvy driven individuals. The others that are too lazy to learn, listen to the media talk about computerized trading and evil Wall Streeters.... Just my two cents.
Hi Joshua, We have an entire generation that has never seen the stock market in a positive light. Generation Y has seen losses, frauds, perp walks, bankruptcies. They have watched their parents 401Ks vaporize, and their grandparents retirement savings disappear. It's no wonder they distrust the stock market! Let's hope for the recent bull market to have some legs!
