What's the Deal with Generation Y's Distrust in the Stock Market?
"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 early thirties - want absolutely nothing to do with the stock market.
In their early teens, they watched their parents get destroyed by the dot com bubble, Enron, Worldcom, and then the World Trade Center attack just to put a cherry on top.
Then, in college, they came home to visit their folks and found foreclosure notices tacked to the door, watched their mothers and fathers and uncles and aunts declare bankruptcy, lose their 401(k) savings and end up walking away from houses to live in rentals.
During the brief stint that Generation Y has been conscious of the adult world and the embryonic fluid of finance that succors it, they've seen nothing but death and dismemberment emanate from Wall Street.
It should come as absolutely no shock to you at all that 30% of this generation has just told a survey they would NEVER invest in the market.