Millennials and Precious Metals – Why They Are a Must

Millennials and precious metals – why they are a must. Millennials aren’t saving enough for retirement, don’t trust anyone in the financial services industry, and prefer speculation over equities. While gold is the world’s largest market, Millennials don’t seem to have a lot of confidence in gold, which is why they’re not investing.

India is the world’s largest market for gold

Traditionally, India has been the world’s largest market for gold. However, it has been surpassed in recent years by China.

China’s jewellery-related demand has increased steadily over the past three years. In fact, it surpassed India in both per capita consumption and total annual demand. China’s gold market is expected to overtake India in 2012.

India’s gold demand is primarily driven by jewelry purchases. The lion’s share of purchases come from weddings and marriages. However, gold purchases also coincide with societal occasions such as Diwali. The five-day festival celebrates good luck and prosperity. Buying gold at festivals is a tradition in many countries. It’s also an important gift for women in India, who are traditionally given jewellery at dowry ceremonies.

The Indian Government has imposed various restrictions on gold imports to keep smuggling under control. In 2014, gold imports dropped to just 779 tonnes.

Millennials prefer speculation over equities

Millennials are the largest generation in American history, and they are getting into the stock market. In 2020, Americans will open 10 million new brokerage accounts. This may play a role in building the financial future.

However, there are other options for investors looking to diversify their portfolios. Alternative investments include real estate, private equity, and art.

The most impressive part is that millennials have been able to make some savvy moves in the market. In fact, one-third of them are now investing in the stock market. Some have even spun up stocks that are above their rational valuations.

One of the biggest challenges facing millennials is the massive amount of debt that they have accumulated through school and university. It is also difficult for them to find a job. Their general expenses are also on the rise.

Millennials don’t trust anyone in the financial services market

Millennials are more likely than Baby Boomers to look at alternative investments as the way to build wealth. However, many of the aspiring investors they encounter talk about investing but never make a dent in their investments. Millennials are also the first generation to grow up with regular access to the Internet and computers.

Millennials are apt to have high levels of education, financial acumen, and technological prowess. However, they also suffer from decision overload and are frustrated by the options available to them. Consequently, most of them choose a single action when it comes to investing.

Despite these advantages, a majority of millennials still lack confidence in the financial services industry. In fact, 23 percent of millennials don’t trust the market. This is the same number as last year, and it is a problem that advisers need to address if they hope to retain millennial customers.

Millennials don’t like new types of investments

Millennials are the largest living generation in the United States. However, they are also the least likely to invest in stocks. In fact, 75% of wealthy millennials do not think that stocks offer returns. Instead, they prefer to invest in companies with social impact goals. This is because they believe that the world is a better place when everyone helps to make it better.

Millennials are also more conservative when it comes to debt. In fact, they are more likely to carry student loan debt than previous generations. This means that they are often behind on their savings goals.

Many millennials are also concerned with saving for retirement. However, there are a number of different paths to retirement for millennials. For example, one in three expects to receive an inheritance, equity compensation, or a business sale.

Millennials aren’t saving enough for retirement

Despite their youth, many Millennials aren’t saving enough for retirement. The current retirement system is failing younger generations, according to a new study by the National Institute on Retirement Security.

The study found that nine out of ten Millennials agree that the nation’s retirement system needs reform. However, more than two-thirds of Millennials are not saving enough.

The report cites multiple reasons why Millennials aren’t saving enough. The top reasons included employment situation, debt obligations, and the cost of living. Many millennials are also strapped with student loan debt and credit card debt. The rising cost of goods and services has squeezed the middle class, causing a gap between what workers can afford and what they can afford to save.

Among the Millennials with jobs, nearly half aren’t saving enough for retirement. This may be due to their part-time status or the fact that their employers do not offer a retirement plan. If employers would offer a defined contribution plan to new employees, it would increase Millennials’ savings rates.

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