Wealth Building For Younger Investors Still Starts With Sound Advice
By Jamie Price, President and CEO of Advisor Group:
Millions of tech-savvy millennial and Gen Z investors have taken matters into their own hands in recent years, buying up digital assets and growth stocks, many of which ended up soaring in value. And while knowing that some investors are well suited to buy speculative assets like cryptocurrencies and make them a part of their portfolios . . . [many haven't yet] learned the basics of investing, including everything from maxing out their 401(k) contributions to building a nest egg each month to plan for contingencies
Time-tested, sound investment advice in the age of social media platforms is increasingly harder to come by. For one, no one flocks to Twitter or Instagram to post about their losses. What’s more, while there have been peaks and valleys along the way, markets have enjoyed incredible gains, with the S&P up over 70% over the last five years, even with the recent, broad-based declines.