STREET DOGS: Millennials
Four things that millennials can teach retirees about investing
Four things that millennials can teach retirees about investing: Invest with Care. "Millennials are much more cautious about investing their money," says Carey Ransom, CEO of Payoff. "Instead of just blindly participating in a [retirement plan] or buying into index funds, this group is much more concerned about where to invest." Many retirees have become too reliant on high-cost money managers. Use More Technology. "Millennials are more willing to use the internet and less reliant on managers behind a desk pitching products," says Ben Feuer, an educational consultant with Forster-Thomas. Many retirees rely heavily on money managers that might have conflicts of interest when it comes to recommendations. While robo-advisers might not be the answer to your money management issues, millennials are willing to use the sort of technology retirees could make more use of. Add a Little More Risk. Conventional wisdom about the retirement portfolio suggests putting the bulk of it in bonds and m...
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