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Millennials and the stock market

New Contributor

Re: Millennials and the stock market

Well that pretty much summarizes everything. Most of us are scrared of the stock market. The 2008 recession happened when I just greaduated high school. It was hard to find a job, and there wasn't much besides college. Even people younger than me would be affected because they saw their parents and other people struggle with finances. I remember hearing about this in my first year econ class. My professor said that his aunts passed away, many years ago, and she was alive during the great depression. When the family was going through her belongings, they found money stuffed under her mattress. She didn't even trust the banks to hold her money even though they were FDIC insured.

Established Contributor

Re: Millennials and the stock market


my-own-fico wrote:

Why most millennials don’t invest in the stock market

 

millennials.jpg

 

 

 

 

 

 


They think these people in Washington are gonna hook them up in retirement lol " oh yes they care about me they will give me my retirement because they love me and care "

 

 

This is a comment in the article the OP posted, I agree 100%.

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Frequent Contributor

Re: Millennials and the stock market

i agree with someguy, market is expensive based on most valuation metrics , ie PE ratio, enterprise multiple, PB and so on. Also look at chart of stock market capitailzation vs GDP, one of warren buffetts favorite charts. You would sell tomorrow if you saw it.

 

If you are young and have 20 years plus to go, you can enter now and dollar cost average . If you older, like me , 50 or 55+ might be risky time. But remember, the market can stay over valued for a long time. Also, most millenials saw what the 2008/2009 crash did to their parents.

 

If you are young and investing via 401k, who cares. Just dollar cost average in every month. I have people 22-30 who are not in our 401k, they don;t even know how it works. I take it upon myself as the CFO of the company to educate them because they are missing out, especially on the company match.

 

Glad to see people like someguy thinking smartly and about their future.. Keep it up...

Frequent Contributor

Re: Millennials and the stock market

santi,

 

do what mongstra said. The emergency fund is critical first step. Then dollar cost average into index fund.

Valued Contributor

Re: Millennials and the stock market

I'm considered a millennial, the average income for a full time male millennial is currently 35k, after insurance, federal tax, state tax.. etc there's really not much money left on the table.

That being said 2016 I ended grossing 204k and ended 2015 with 186k, I don't invest in stocks simply cause I like being safe with my money, in my line of business (construction) you never know when things will nosedive, it happened to my dad and if it wasn't for him rigorously saving and selling homes at the right time, I don't know where I'd be (home I live in was gifted from his estate).

I'd only invest in real estate living in SoCal some of my friends have made a killing buying and selling from 2012-2016.

http://ficoforums.myfico.com/t5/Personal-Finance/What-s-the-most-you-ve-paid-the-tax-man-in-a-year/m...