This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

The Secret for Those Who Retire at 30

By Hal M. Bundrick

NEW YORK ( MainStreet) -- Ah yes, the life of a millionaire. Lazy days at the country club. Perhaps a bit of travel overseas before returning to your posh vacation home and spending hours cruising the lake in your boat. No doubt, you're picturing a frolicking, handsome, white-haired senior couple straight out of a Levitra ad, right? The truth is, the reality of this scenario would better fit a vibrant, young-adult couple in their mid-30s, according to new research from Fidelity.

The study of Gen X/Y millionaires under the age of 48, with an average age of 37, finds they are more optimistic, more likely than their Boomer peers to take an overseas vacation (flying first class) and also have that country club membership, vacation home and boat.

Many of these rich young adults inherited their wealth, but are far from squandering it. Averaging 30 trades per month, they are active investors, personally engaged in further building their wealth. And while more likely to enjoy their wealth, they also tend to be more generous with their time and money than wealthy Boomers.

"Gen X/Y millionaires are taking a dramatically different approach to their wealth than the older generations, signaling a new era of wealthy investors," says Bob Oros, an executive vice president with Fidelity. "These next generation millionaires, who have already surpassed their older counterparts in total assets, are likely to drive significant change among the investors who want to emulate them, the advisors who serve them and the financial services industry that supports them."

Even though the study found that 71% of Gen X/Y millionaires said they feel knowledgeable about investing, a vast majority (92%) work with a financial advisor. And while older millionaires are maintaining consistent investing strategies (43% didn't add any asset classes in the last year), Gen X/Y millionaires are more likely to adjust their portfolios, adding sophisticated investments like foreign currency, international individual securities, venture capital and derivatives.

Most (61%) make their own investment decisions, but look to a financial advisor for a second opinion -- only 6% delegate their decisions entirely.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs