Why Millennials Are Looking to Buy More Than Simply Stocks
By Hal M. Bundrick
NEW YORK (MainStreet) -- Wealthy younger investors are much less enamored of the stock market than their elder peers and are looking for increasing portfolio allocations to alternative and private equity investments.
In a survey of accredited investors aged 18 and older, representing households with over $1 million in investable assets, excluding the value of a primary residence, or individual annual income exceeding $200,000, nearly half (49%) of young investors 18-29 are currently invested in private company securities (private placements and angel investments) compared with just 21% of 45-60 year olds.
These affluent young investors allocate an average of only 30% to equities, while Baby Boomers put nearly half (48%) of their investments in stocks. The research was conducted by iCrowd, the small business and investor social network, who says the results suggest that the "Facebook generation" may be more receptive to less traditional investments.
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