Millennial Money
How Young Investors Can Build a Fortune
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4.3 • 7 Ratings
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- $11.99
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- $11.99
Publisher Description
Fact: the Millennial Generation will not be able to rely on pensions and social security in retirement. Instead, they will have to save and invest in the global stock market to meet their goals. When it comes to thinking about money, Millennials are, as a generation, different from their parents. They are skeptical of expert advice, yet more committed than baby boomers to passing wealth on to future generations. To build wealth, young people must start investing early and buck conventional market wisdom. Millennial Money will explain the most common mistakes that hurt investors' long-term returns and show why their investments in popular stocks or the hottest industry of the day have resulted in such underwhelming results. More importantly, the book will introduce a strategy that can help us overcome our shortcomings as investors. Armed with this strategy, Millennials can become the most successful investing generation in history.
PUBLISHERS WEEKLY
Portfolio manager O'Shaughnessy looks at the unique opportunities available to the millennial generation those born between 1980 and 2000. First, he strongly advocates that millennials invest as high a percentage of their income as possible "in the global stock market rather than low-risk' alternatives like cash or bonds." According to the author, investing in equities enables investors to share in "business growth around the world." Viewing investment as a form of financial protection from future risks, he argues that to do it successfully, you must often make counterintuitive decisions. He identifies three common mistakes investors make: favoring their native country's companies; settling for a market-matching return; and letting emotions cloud judgment. He also offers strategies that can serve as an investing framework and examines the power of delayed gratification, risk, and what it takes to gain an edge. O'Shaughnessy provides sound advice that will give millennials the advantages they need to improve their financial future.
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