Millennials are risk averse when it comes to investing in the stock market, according to Aron Levine, an executive with Merrill Edge, a division of Bank of America (BAC) .

"They're playing it safe," Levine said, adding that millennials are taking a careful approach when it comes to stock investing and are delaying some of life's milestones such as marriage and buying a home. 

More From TheStreet:

More from Video

NYSE Trader Expects Blowout Earnings From Alphabet, Amazon and Facebook

NYSE Trader Expects Blowout Earnings From Alphabet, Amazon and Facebook

Tilray CEO: Surging Cannabis Industry Is a Threat to Food and Drug Players

Tilray CEO: Surging Cannabis Industry Is a Threat to Food and Drug Players

How This Former VC Player Became CEO of $2 Billion Cannabis Company Tilray

How This Former VC Player Became CEO of $2 Billion Cannabis Company Tilray

Lee Munson: Not Peak FANG Yet

Lee Munson: Not Peak FANG Yet

Even Standing Desk Company Varidesk Is Watching How the Trump Tariffs Play Out

Even Standing Desk Company Varidesk Is Watching How the Trump Tariffs Play Out