7 ways rich millennials use their wealth differently than rich baby boomers
A quarter of affluent millennials say they have cryptocurrency and/or are using it, while 31% said they're interested in using it,that surveyed more than 1,000 millennials aged 24 to 38 who have $50,000 in investable assets or an income of $100,000.
"What we have seen with millennial investors is that they tend to drift towards investments that are exciting or trendy and before they know it they have a large amount of assets tied up in illiquid risky investments, such as direct deals into startup companies," he wrote."If something comes up and they need a lot of their assets quickly, this can create a problem."They associate wealth with purpose, success, and making a difference.
Those who are older look at wealth from a security viewpoint, stated the report. Younger people are after a"more ambiguous concept of happiness," associating wealth with success and fulfillment at work and outside work., millennials place more emphasis on achieving entrepreneurial success, fostering change in the community or world, and contributing to improvements in their society.
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