Millennials Are Financially Timid, But It's Not Because Of Trump

It might be authority in general, not President Donald Trump, that is making young Americans so uneasy, according to a report from Vested, a New York-based public relations agency.

In a survey of millennials aged 20 to 35 years old, participants were split evenly on Trump – when asked whether they would trust Trump with their finances, 40 percent answered yes, and the same proportion answered no, while 20 percent said they were unsure.

Many millennials, 42 percent, said that they are taking a “wait-and-see” attitude when it comes to their financial plans during the Trump administration, while 30 percent said that their financial decisions would be unaffected by the Trump win.

When asked how they thought the economy would perform over the next five years, a slight majority of respondents, 51 percent, felt positive, while 25 percent thought the economy would worsen. The remaining 24 percent believed that the economy would remain the same.

The research found that one-in-five millennials making more than $100,000 per year are not investing in financial markets.
Source: FA Magazine

Posted in Recent Posts.