Although the market is poised to close a banner year hovering near record highs, the rally hasn't helped half of U.S. millennials. PeltzLATimes reports:
, and analysts agree that burden is another reason many millennials aren’t investing in stocks. So is the high cost of housing in certain urban areas, combined with the fact that people in their 20s often don’t yet have the earning power to invest part of their income in stocks.
“Invest at all-time highs?” one Twitter user responded. Another said he was 33 with school loan debt, saying, “This is a valid reason as to why my generation is struggling to invest.” “The elimination of commissions doesn’t do a lot for those individuals who are essentially scared out of their wits by their fear of what happened in the selloff a decade ago,” Hamrick said.
Vietri said Schwab encounters that fear with millennial clients. “When you see your parents or others go through that type of adversity, it does have a lasting effect,” he said. Millennials’ modest appetite for stocks will be tested if the market turns south in 2020, and there are questions about whether stock prices will keep rising if economic growth slows, the U.S.-China trade fight worsens or concerns mount about how the presidential election will affect the markets.
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