61% of investors in the millennial generation are saving for retirement, buying a home, or for other long-term financial goals, according to a survey conducted by digital investment company Stash.
This somewhat goes against the popular perception that savers in the millennial generation are both rare and only interested in short-term rewards.
The next most common reason for sasving was buying a home; 43% of millennial respondents are investing to save for this goal, according to Stash’s data, compared to 20% of Gen X-ers, and 6% of boomers.
This is the first study the investment platform has conducted, surveying about 27,100 participants for the report, 26,000 of which were Stash investors.
While millennial investors are gearing up for these financial goals, only 48% of them contribute their savings to a 401(k) plan.
The full report can be viewed here.1 - Reader Likes This Post