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WHY MILLENNIALS ARE GIVING UP ON THE STOCK MARKET:
After the GameStop saga, 39% believe the Stock Market is a GREAT WAY to make money quickly, while 20% believe the stock market is TOO RISKY. Additionally, only HALF of young adults felt like the stock market “is a good thing” for ordinary people, and even more surprising….37% said they would NOT INVEST, AT ALL…even if they were given money specifically FOR that purpose.
BankRate conducted a SEPARATE study across ADULTS throughout the United States…and THEIR findings suggest that nearly 50% of Americans feel like the STOCK MARKET IS RIGGED AGAINST THEM.
They also found that more than 39% of American adults had NO MONEY invested in the stock market either before the pandemic, or currently…and, even YAHOO FINANCE found that 43% of millennials aren’t investing, either, for these 5 reasons:
1. 56% said they simply didn’t have the money to invest.
Money isn’t necessarily the most important component of investing…instead, it’s time. The longer you keep your money invested, the more time it has to grow…so, by that logic…it’s much better to invest a little bit now, than wait until you have more money, later.
2. 32% say they don’t understand stocks.
For the VAST MAJORITY of investors out there, it could really be as simple as signing up for a free stock trading brokerage in less than 5 minutes, and then – consider throwing all of your money into a total stock market index that tracks a little bit of everything…like, VTSAX, SWTSX, or FZROX…and that’s it.
3. 13% say they’re more comfortable with SAFER investments…like savings.
Now, this is probably one of THE most DANGEROUS assumptions, because it plays into the mindset that – IF you invest – you could LOSE MONEY….where, in reality – this couldn’t be further from the truth, if you stick with a few basic rules:
-Invest Long Term
-Protect Against Inflation
4. 13% of Americans say they won’t invest in the stock market because it’s “rigged against them.”
Usually…those factors tend to be short lived, and across a wide spectrum of the market – those factors can only influence a stock for so long before, eventually, things return to normal and stabilize.
5. 11% of Americans are not investing because of volatility.
Even though the day-to-day could appear to be a wild ride of ups and downs…when you zoom out to a larger picture, year by year – you’ll see that those graphs quickly level out, and overall – the trend continues higher, even if the market is volatile on a daily basis.
So, overall…even though most Americans believe the market is Rigged against them…the BEST way to rig the markets in your favor…is to simply KEEP INVESTING, LONG TERM…and that’s it. No, it’s not a “quick way to make money,” like 39% of young adults believe….but, it can be a solid way to preserve your wealth, and grow it SAFELY, long term.
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*Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. This is not investment advice. Public Offer valid for U.S. residents 18+ and subject to account approval. There may be other fees associated with trading. See Public.com/disclosures/