30 April 2020 - Laura Hoy, InvestorPlace Contributor
Millennials often find themselves as the butt of the joke, but in today’s stock market, they’re the group that will have the last laugh. Since Boomers have a much shorter investment timeline, they have to make stressful buying and selling decisions. Meanwhile millennial stocks are far easier to come by.
As Michael Clark, Ph.D., Associate Director at the Center for Business and Economic Research at the University of Kentucky pointed out — millennials are seeing a truly massive dip first the time, but it can be a good thing if they’re looking for stocks to buy in their retirement accounts. Most have 20-30 years before reaching retirement age, leaving plenty of time for the stock market to recover before they need those funds.
Specifically, Clark states the following when addressing the subject of millennial stocks:
“Equity investments generally perform well in the long run, but they can experience significant losses at times. It took five years for the stock market to fully recover from the losses during the 2008 recession, but the market did come back and provided strong returns for many more years. Millennials should consider the amount of risk they can tolerate at different points in their life. As they get closer to retirement, they might not have time to wait for the market to recover and should then look for more conservative investments.”
With that in mind, here are three of the best stocks for millennials with varying degrees of risk.
- Chevron Corporation (NYSE:CVX)
- Ralph Lauren Corp (NYSE:RL)
- Alphabet (NASDAQ:GOOG, GOOGL)
While buying shares now amid economic uncertainty is inherently risky, finding investments that haven’t risen as far as the broader market during the recent jump can be even trickier. However, by looking at industries facing more pain ahead, millennials can find worthwhile investments that, given some time, can produce results. Let’s dive a bit deeper into what makes each of these promising stocks for millennials to buy.
For full article, click here: https://investorplace.com/2020/04/3-millennial-stocks-to-consider-buying-now/