(Newsmax) Millennials are rarely described as “markedly conservative,” but when it comes to investing, that’s exactly what they are, according to a new study from UBS.
People between the ages of 21 and 36 are often described as “lazy, entitled and narcissistic.” But UBS says its study shatters stereotypes about this budding generation of investors.
Millennials are strikingly similar to the World War II generation, who came of age during the Great Depression, the study showed. Millennials are actually more prone to be savers than investors.
According to the study, millennials are extremely fiscally conservative. Only 5 percent of participants classified their risk tolerance as “aggressive.” UBS found that millennials are skeptical of long-term investing, and they are holding more cash than any other generation.
Millennials do a lot of worrying and most of the concern is about their distant future and their loved ones.
After worries about their retirement, millennials second biggest concern is their parents’ financial situation and taking responsibility for them as they age.
