Technology isn't the only thing that sets millennials' investing habits apart from those of other investors'.
Here are three investing strategies that millennials love.
Invest with the Environment In Mind
Millennial investors are more drawn to socially responsible investments than their elders, New York City based certified financial planner Douglas Boneparth said, choosing ETFs or mutual funds that exclude companies that sell addictive substances and those who don't use of clean technology. Sorry, Altria (MO) .
"Millennial demand is changing what we buy and how we invest more than ever," Boneparth said. "We want and expect more responsibility out of the companies we use and invest in. Millennials, more than other generations have a lower tolerance for companies that are not sustainable, treat the environment poorly or do harm to society."
Invest In-Store Savings
Plagued with flatlining wages and monster student loan payments, some millennials have turned to more unusual ways to fund their retirement accounts instead of regularly contributing from their paychecks. Some of Wealth By Design certified financial planner Danielle Howard's younger clients shop sales and use coupons to save money on everyday essentials and then invest what they save.
"You buy groceries, and when the clerk at the store hands you a receipt and says you saved this many dollars, you go out to your car, open an app and move the amount from your checking account into your savings account, or retirement account," Howard said. "It's techy and it's empowering for people to move towards accomplishing their goals."
Minimize Risk With Market Linked Notes
Still terrified of stocks from the global financial crisis, millennials are big fans of products like market linked notes that can minimize their losses in the event of a market crash.
"My millennial clients love market linked notes as a way of having exposure to the stock market while removing some of the risk from the equation," 1650 Wealth Management, LLC certified financial planner Thomas Balcom said. "They want to save for retirement, but don't want to experience a 2008 scenario again."
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