Millennials are considered to be the most digitally savvy investor group. This generation is very tech savvy. They look for strong digital options and controls to build on their investment experience. And it should come as no surprise that this particular age group has taken advantage of state-of-the-art technology tools to enter the world of investing.
So, how and where are these Millennials investing?
“Millennials Today Are Smarter When It Comes to Investment, They have access to information from various channels like blogs, social media platforms, podcasts, YouTube and much more. They also understand the importance of investing early,” said Nikhil Agarwal, Founder and CEO, Gripp.
He said that many of them consider whether the investment is mapped to their financial goals and according to their individual risk profile.
However, the primary investment style remains the same for everyone, including millennials, based on one’s risk tolerance. A key difference in the investing style of Millennials is that they prefer online methods of investing offline, unlike previous generations, who preferred the other way around.
,millennium Prioritize digital platforms first to invest. Each generation also has certain industries or companies that investors are more related to and millennials are naturally attracted to digital business models and look to those companies to invest in,” said Nikhil Agarwal.
Another factor that millennials focus on is diversification. They are more open to exploring alternative investment options and they start with smaller sized stamps. So apart from stocks or FDs, they are looking for investments in crypto, startup equities and high yield fixed income.