It Should Come as no Surprise That Not All Millennials Invest Alike

Not all millennials invest alike, but they do have similar tendencies depending on the size of their bank accounts. A recent study by exchange traded fund provider Global X Funds broke down affluent millennial and generation X investors and found that they can often be lumped into classes. For example, Global X titled millennials with $100,000 to $250,000 in investable assets as 'The Builders' as they have just begun to save and invest. The study revealed that the so-called builders are not as likely to use professional financial services as the other investor groups and it found they are 30 percent less likely to use an advisor and 49 percent less likely to get financial information from an advisor. The survey also showed that savings are not a major part of their financial plans just yet, as they are 26 percent less likely to have a plan to save for their children's education.